USDCAD approaching resistance, potential drop!

Corto

Dólar estadounidense/Dólar canadiense (FX:USDCAD)

FX:USDCAD Dólar estadounidense/Dólar canadiense

trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong uadcadshort forex forextrading forexsignals

USDCAD is approaching our first resistance at 1.2960 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2858 (horizontal swing low support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results

Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.