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18.01.2021 11:56 AM
USDCAD is facing bearish pressure, potential for further downside!

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Price is facing bearish pressure from our first resistance in line with our horizontal swing high resistance, 78.6% fibonacci retracement and 78.6% fibonacci extension where we could see a drop below this to our first support target.

Trading Recommendation

Entry:1.2790

Reason for Entry:

horizontal swing high resistance, 78.6% fibonacci retracement and 78.6% fibonacci extension

Take Profit: 1.2745

23.6% fibonacci retracement

Stop Loss: 1.2832

Reason for Stop Loss:

horizontal swing high resistance

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
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