USDCAD, H4 is approaching from our Pivot, potential for a bounce
Description:
Price is approaching our Pivot point at 1.25954, which is in line with 61.8%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical area. We could potentially see price bounce here towards our 1st resistance level at 1.26642, a fibonacci confluence. It is worth noting that price is above the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.25954
Why we like it:
61.8%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical area
1st Support: 1.25616
Why we like it:
127% Fibonacci retracement, 200% fibonacci extension and horizontal graphical swing low.
1st Resistance: 1.26642
Why we like it:
-27%, 78.6% Fibonacci retracement and horizontal graphical swing high.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.25954, which is in line with 61.8%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical area. We could potentially see price bounce here towards our 1st resistance level at 1.26642, a fibonacci confluence. It is worth noting that price is above the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.25954
Why we like it:
61.8%, 78.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical area
1st Support: 1.25616
Why we like it:
127% Fibonacci retracement, 200% fibonacci extension and horizontal graphical swing low.
1st Resistance: 1.26642
Why we like it:
-27%, 78.6% Fibonacci retracement and horizontal graphical swing high.
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.