USD/CAD Daily: Reached our bearish target at 1.1988
Trading idea: none
Technical Analysis: The pair seems to have completed an Elliott Wave patter coinciding with the 38% Fibonacci level. However the pair has broken below our key pivot levels trading below the Ichimoku cloud. The combination of the indicators gives us a mixed bias
What to look for: A break below 38% Fibonacci could open doors to further drops towards 1.17.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.1988 | 1.22 | 1.26 |
| 1.1730 | 1.24 | 1.27 |
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