USDCAD testing key resistance! Pullback incoming!

Price broke out of descending trendline resistance (now support) and tested key fibonacci retracement level and swing high. A short term pullback below 1st resistance at 1.26475 towards 1st support at 1.25387 could be likely. Trading Recommendation Entry: 1.26475 Reason for Entry: 61.8% Fibonacci retracement, key swing high resistance Take Profit: 1.25387 Reason for Take Profit: 61.8% Fibonacci retracement, Descending trendline support Stop Loss: 1.26719 Reason for Stop Loss: 78.6% Fibonacci retracementThe material has been provided by InstaForex Company - www.instaforex.com
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