Entry : 83.48 Why it's good : horizontal pullback resistance, 23.6% fibonacci retracement Stop Loss : 83.63 Why it's good : horizontal pullback resistance, 38.2% fibonacci retracement Take Profit : 82.69 Why it's good : horizontal pullback support, 61.8% fibonacci retracement

Entry : 1.2973 Why it's good : horizontal overlap resistance, 23.6% fibonacci retracement, short term descending line Stop Loss : 1.30349 Why it's good : horizontal swing high resistance, 50% fibonacci retracement Take Profit : 1.2774 Why it's good : horizontal swing low support, 61.8% fibonacci retracement

USDCAD is approaching our first resistance at 1.3399 (horizontal swing high resistance, 76.4% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 1.3274 (100% Fibonacci extension , horizontal swing low support).Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.