Hi traders,
On the USDCAD we can see that the blue trendline has been broken. I'm looking to enter short at the retest of this trendline. This area lines up with the 38.2% Fibonacci retracement of the move in August 2016. We can also see that 61.8% Fibonacci retracement of the bigger move. Stop goes above the 61.8% Fibonacci retracement of the August move.
Entry: 1.29371
Stop: 1.30951
Target: 1.26811 = R:RR 1.62
Best of luck! Updates will follow.
On the USDCAD we can see that the blue trendline has been broken. I'm looking to enter short at the retest of this trendline. This area lines up with the 38.2% Fibonacci retracement of the move in August 2016. We can also see that 61.8% Fibonacci retracement of the bigger move. Stop goes above the 61.8% Fibonacci retracement of the August move.
Entry: 1.29371
Stop: 1.30951
Target: 1.26811 = R:RR 1.62
Best of luck! Updates will follow.
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