USD/CAD approaching resistance, potential drop!

Trading 17 avr 2019 Donner votre avis

USDCAD is approaching our first resistance at 1.3404 (horizontal overlap resistance, 76.4% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 1.3342 (horizontal pullback support, potential 61.8% Fibonacci retracement ).

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.analytics5cb683379c0f9.png

The material has been provided by InstaForex Company - www.instaforex.com

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