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 1.2930 if price breaks below downside confirmation at 1.3005. Ichimoku is also indicating more bearishness to come.

Trading Recommendation

Entry: 1.3005

Reason for Entry:

100% fib extension

Take Profit :1.2930

Reason for Take Profit: 161.8% fib extension

Stop Loss: 1.3051

Reason for Stop loss:

Horizontal overlap resistance