Bullish reversal off pullback support?
USD/CAD is falling towards the support level which is a pullback support that is slightly above the 61.8% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.3952
Why we like it:
There is a pullback support level that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 1.3900
Why we like it:
There is an overlap support level that lines up with the 78.6% Fibonacci retracement.
Take profit: 1.4003
Why we like it:
There is a pullback resistance level that is slightly below the 38.2% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Entry: 1.3952
Why we like it:
There is a pullback support level that is slightly above the 61.8% Fibonacci retracement.
Stop loss: 1.3900
Why we like it:
There is an overlap support level that lines up with the 78.6% Fibonacci retracement.
Take profit: 1.4003
Why we like it:
There is a pullback resistance level that is slightly below the 38.2% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
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