FX Trading Idea – USD/CAD

Trade Idea
Buy 1.3160. Stop 1.3125 and target at 1.3235

After reaching a low of 1.2993, price managed to recover to 1.3160. This was followed by a decline to 1.3040. We think this is a corrective decline and we are expecting price to move higher to 1.3235 in a 3-wave ABC Fibonacci price pattern. MACD is still bullish and Stochastic is rising. 20EMA is also rising.

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