MEX_Exchange
Short

USDCAD Is Testing Its Resistance, Prepare For a Reversal

FX:USDCAD   U.S. Dollar / Canadian Dollar
Sell below 1.2854. Stop loss at 1.2953. Take profit at 1.2651.
Reason for the trading strategy (technically):
USDCAD is testing its resistance at 1.2854 (100% Fibonacci extension , 76.4% Fibonacci retracement , horizontal overlap resistance) where we expect to see a reversal, causing price to push down to its support at 1.2651 (61.8% Fibonacci retracement , horizontal overlap support).
Stochastic (55, 5, 3) is testing its resistance at 97.7% where we expect to see a corresponding reaction.
OO this is so funny :-D i had same level for long :
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