USDCAD is approaching our first resistance at 1.3471 (horizontal swing high resistance, 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 1.3362 (horizontal overlap support, 50% Fibonacci retracement , 100% Fibonacci extension ).
Stochastic (89,5,3) 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.
If you would like the pivots for all pairs and our Forager Robot execution tool, please join our Strategic Access Group at https://www.globalfxtradinggroup.com/sag. Steve moderates that group as well and I participate daily…
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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