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Tickmill
Mar 1, 2018 2:48 AM

USDCAD rising strongly, approaching strong resistance! Short

U.S. Dollar/Canadian DollarFXCM

Description

USDCAD is rising strongly and approaching major resistance at 1.2910 (Multiple Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down all the way to 1.2628 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

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Losses can exceed the initial investment so please ensure you fully understand the risks.

Comments
sirisaraweb
can i sell now? or waiting to 1.2910
inamir
Awesome Sir,
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