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USDCAD has broken major support, prepare for a big drop

Short
Dollaro / Dollaro canadese (FX:USDCAD)  
MEX_Exchange  
FX:USDCAD   Dollaro / Dollaro canadese
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadshort usdcadlong usdcadforecast usdcaddaily usdcadsell forexsignals
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadshort usdcadlong usdcadforecast usdcaddaily usdcadsell forexsignals

USDCAD has broken our ascending support line triggering a bearish move from here.

Sell below 1.2974. Stop loss at 1.3052. Take profit at 1.2731.
Reason for the trading strategy (technically):
Price has broken our ascending support line triggering a bearish exit. We look to sell below major resistance at 1.2974 (Fibonacci retracement, pullback resistance) for a drop towards major support at 1.2731 (Fibonacci retracement, horizontal overlap support).
RSI (55) has made a similar bearish exit and pullback to its ascending support-turned-resistance line signalling that a further drop is likely.

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