USD/CAD right on resistance, remain bearish

The price has shot up and reached our profit target perfectly. We prepare to sell on major resistance at 1.2859 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.2708 support (Fibonacci retracement, horizontal pullback support).

Stochastic (34,3,1) is seeing major resistance at 98% where we expect a corresponding drop from.

Sell below 1.2859. Stop loss is at 1.2900. Take profit is at 1.2708.


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