FX.co ★ USDCAD Potential for Bullish Rise to 61.8% Fibonacci line

Description :

Looking at the H4 chart, my overall bias for USDCAD is bullish as the current price is above the Ichimoku Cloud. Looking for a pullback buy entry at 1.34295 where the 38.2% Fibonacci line is. We are looking to take profit at 1.35352 where the 61.8% Fibonacci line is, Stop loss will be placed at 1.33638, where the recent swing low is.

Trading Recommendation

Entry: 1.34295

Reason for Entry: 38.2% Fibonacci line

Take Profit: 1.35352

Reason for Take Profit:

61.8% Fibonacci line

Stop Loss: 1.33638

Reason for Stop Loss:

the recent swing low