USDCAD testing 1st support, potential for a further rise!

USDCAD is testing our 1st support at 1.3165 where the horizontal pullback support and 61.8% fib retracement are. Price could touch 1st support and bounce from there. EMA also indicates that further upside will come.

Trading Recommendation

Entry: 1.3165

Reason for Entry:

horizontal pullback support and 61.8% fib retracement

Take Profit: 1.3207

Reason for Take Profit:

Horizontal swing high resistance ,61.8% Fibonacci retracement

Stop Loss: 1.3127

Reason for Stop Loss:

61.8% Fibonacci retracement, horizontal swing low

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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