USD/CAD - Sell Swing Trade (4.75 Risk:Reward)

Hello Traders! Welcome to my post, today we are looking at USD/CAD and we have identified the following confluences to support this high-probability setup:

-Major trendline and counter-trendline intersecting to create a strong area of resistance in conjunction with a minor channel
-Major 78.6 Fibonacci retracement and minor 161.8 Fibonacci extension as strong resistance
-Oversold conditions

Stop Loss: 1.33500
Targets: 1.32000, 1.31800, 1.31600, 1.31200

Risk to Reward Ratio: 4.75


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Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.
Chart PatternsForexTechnical IndicatorsSELLswingtradeTrend AnalysisUSDCAD

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