USD/CAD dropping perfectly, watch for the break of key support
February 15, 2018 5:21 am
The price has dropped perfectly from our selling area and is now testing major support at 1.2490 (Fibonacci retracement, horizontal overlap support). We would only sell if the price drops and closes below this major level. If it does, then the momentum should push the price down to at least 1.2382 support before 1.2270 (Fibonacci extension, horizontal swing low support).
Stochastic (89,5,3) is seeing a nice reversal from 97% with good downside potential.
Sell below 1.2490. Stop loss at 1.2561. Take profit at 1.2270.
The material has been provided by InstaForex Company – www.instaforex.com
The price has dropped perfectly from our selling area and is now testing major support at 1.2490 (Fibonacci retracement, horizontal overlap support). We would only sell if the price drops and closes below this major level. If it does, then the momentum should push the price down to at least 1.2382 support before 1.2270 (Fibonacci extension, horizontal swing low support).
Stochastic (89,5,3) is seeing a nice reversal from 97% with good downside potential.
Sell below 1.2490. Stop loss at 1.2561. Take profit at 1.2270.
The material has been provided by InstaForex Company – www.instaforex.com
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