FX.co - USD/CAD testing resistance, potential drop!

2019-08-02T07:55:30

Relevance until2019-08-03

USDCAD is testing our first resistance at 1.3238 where we are expecting a drop below this level.

Entry :1.3238

Why it's good : 38.2% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance

Stop Loss : 1.3297

Why it's good : 50% Fibonacci retracement

Take Profit : 1.3107

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

USD/CAD testing resistance, potential drop!

*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 testing resistance, potential drop!