FX.co ★ USDCAD facing pressure from 1st resistance, further drop expected !

Price is facing bearish pressure from the first resistance level, in line with 61.8% fib retracement where we could see a drop to our support level where the horizontal swing low is. Ichimoku is also showing resistance for the price.

Trading Recommendation

Entry: 77.54

Reason for Entry:

61.8% fib retracement

Take Profit :76.96

Reason for Take Profit:

Horizontal swing low

Stop Loss: 77.94

Reason for Stop loss:

Horizontal swing high