Loonie Trade Idea

• Candle Stick pattern - Shooting Star
   
• Major resistance - 1.3460 (55 day 4H EMA)
   
• USD/CAD has made a high of 1.34461 at the time of writing and started to decline from that level. Short term trend is still weak as long as resistance 1.3460 holds.
   
• Any break above 1.3460 will take the pair to next level till 1.3498/1.3587.
   
• On the lower side major support is around 1.3370 and break below targets 1.3300/1.3260.

It is good to sell on rallies around 1.3400-1.3405 with SL around 1.3460 for the TP of 1.3260

R1-1.3460

 R2-1.3498

R3-1.3580

Support

S1-1.3370

S2-1.3300

S3-1.3260