theforexarmy
Short

USDCAD Weekly View: Remain bearish

FX:USDCAD   U.S. Dollar / Canadian Dollar
Sell below 1.3180. Stop loss at 1.3600. Take profit at 1.2500.
Reason for the trading strategy:
We remain bearish below 1.3180 resistance ( Fibonacci retracement , bearish pullback) especially with the break of our long term ascending-turned-resistance line signalling a bearish exit to be seen for a drop towards at least 1.2500 support (major swing low support, Fibonacci projection ).

MACD has broken a key support-turned-resistance line signalling a drop is expected.
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