USDCAD approaching support, potential bounce!
USDCAD is approaching our first support at 1.3056 (horizontal pullback support, 61.8% Fibonacci extension, 23.6%, 38.2% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3261 (horizontal pullback resistance, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Come join us today at : easymarkets.com/
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.