USDCAD is testing our Pivot, potential for a rise.
Description:
Price is testing our Pivot point at 1.26425, which is in line with 38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 1.25750, a fibonacci confluence. It is worth noting that price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1.26425
Why we like it:
38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.25270
Why we like it:
61.8%, -61.8% Fibonacci retracement and 100% fibonacci extension
1st Resistance: 1.27650
Why we like it:
50% Fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.26425, which is in line with 38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 1.25750, a fibonacci confluence. It is worth noting that price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1.26425
Why we like it:
38.2% Fibonacci retracement, 61.8%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.25270
Why we like it:
61.8%, -61.8% Fibonacci retracement and 100% fibonacci extension
1st Resistance: 1.27650
Why we like it:
50% Fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.