FX.co ★ USDCAD testing downside confirmation , further drop expected !

Price is facing bearish pressure from our downside confirmation, where we could see a further drop towards 1st support at 1.3106 if price breaks below downside confirmation at 1.3140. Ichimoku is also indicating more bearishness to come.

Trading Recommendation

Entry: 1.3140

Reason for Entry:

horizontal swing low

Take Profit :1.3106

Reason for Take Profit: 127% fib retracement

Stop Loss: 1.3164

Reason for Stop loss:

horizontal pullback resistance