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CollegeofPips

USD/CAD | Potential Downward Movement

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
CollegeofPips  
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Support and Resistance Pivot Points Supply and Demand Forex Technical Analysis topdownanaylisis priceaction Fibonacci Retracement
3
4
supportandresistance pivotpoints supplyanddemand forex technicalanalysis topdownanaylisis priceaction fibonacciretracement
💡 Trade Idea

📉 Sell Limit USD/CAD @ 1.2772

🎯 Target Profit 1.2623

🛑 Stop Loss 1.2838

❌ Do not risk more than 1 % of your account on each trade

🙂 Good Luck !

Description:
The market has moved lower and then posted a higher correction near the resistance trendline. The price now is traded near the 50% Fibonacci pullback indicating a potential move downward towards the 1.2623 level.

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