USDCAD holding below descending trendline resistance. With technical indicators showing room for further drop, a further push lower below our 1st resistance at 1.25702 towards our 1st support at 1.25008 could be possible.
Trading Recommendation
Entry: 1.25702
Reason for Entry:
23.6% Fibonacci retracement, moving average resistance
Take Profit: 1.25008
Reason for Take Profit:
-61.8% Fibonacci retracement, 100% Fibonacci extension
Stop Loss: 1.26373
Reason for Stop Loss:
Graphical swing high