FX.co ★ USDCAD bounced from trendline, potential for a further rise! !

Price holding above ascending trendline support and stochastics also testing support where price bounced in the past. A bounce reaction above 1st support at 1.31590 towards 1st resistance at 1.32286 can be expected.

Trading Recommendation

Entry: 1.31728

Reason for Entry:

Ascending trendline support

Take Profit: 1.32286

Reason for Take Profit:

Recent swing high, 61.8% Fibonacci extension

Stop Loss: 1.31590

Reason for Stop Loss:

Recent swing low