#USDCAD, H4 approaching our Pivot, potential for a drop.
Description
Price is approaching pivot in line with horizontal swing high resistance in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push down towards horizontal pullback support in line with ascending trendline support together with 88% Fibonacci retracement and 100% Fibonacci extension. If prices continue to push up, prices might face resistance from 61.8% Fibonacci retracement and 161.8% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
Pivot: 1.23307
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
1st Support: 1.22038
Why we like it:
88% fibonacci retracement, 100% fibonacci extension and horizontal pullback support
1st Resistance: 1.24032
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical swing high resistance.
Trading FX & CFDs carries high risk.
Price is approaching pivot in line with horizontal swing high resistance in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push down towards horizontal pullback support in line with ascending trendline support together with 88% Fibonacci retracement and 100% Fibonacci extension. If prices continue to push up, prices might face resistance from 61.8% Fibonacci retracement and 161.8% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
Pivot: 1.23307
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
1st Support: 1.22038
Why we like it:
88% fibonacci retracement, 100% fibonacci extension and horizontal pullback support
1st Resistance: 1.24032
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical swing high resistance.
Trading FX & CFDs carries high risk.
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