FX.co - USD/CAD approaching resistance, potential reversal!

1 August 2019 at 5:11AM (UTC+0)

Relevance until2 August 2019 at 5:11AM (UTC+0)

Price approaching its resistance at 1.3238 where it could potentially drop to its support.

Entry: 1.3238

Why it's good : 61.8% Fibonacci extension, 50% Fibonacci retracement, Horizontal pullback resistance

Stop Loss : 1.3287

Why it's good : 100% Fibonacci extension

Take Profit : 1.3154

Why it's good: 61.8% Fibonacci retracement, horizontal overlap support

USD/CAD approaching resistance, potential reversal!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ USD/CAD approaching resistance, potential reversal!