theforexarmy

USDCAD Approaching Support, Prepare For A Bounce

Long
FX:USDCAD   Dollar Américain / Dollar Canadien
Buy above 1.2966.
Stop loss at 1.2933.
Take profit at 1.3039.
Reason for the trading strategy (technically):
USDCAD is approaching its support at 1.2966(61.8% Fibonacci extension x3, 76.4% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.3039 (23.6% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 2.7% where a corresponding bounce could occur.
Clause de non-responsabilité

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