USDCAD, H4 is approaching our Pivot, potential for a bounce.
Description:
Price is approaching our Pivot point at 1.26992, which is in line with 78.6%, -61.8% Fibonacci retracement, 78.6% Fibonacci extension and descending trendline support. We could potentially see price rise towards our 1st resistance level at 1.27714. It is worth noting that price is also trending above a tentative ascending trendline, in line with our bullish view.
Pivot: 1.26917
Why we like it:
38.2%, 61.8% Fibonacci retracement, 78.6% Fibonacci extension and descending trendline support.
1st Support: 1.26490
Why we like it:
61.8%, 127% Fibonacci extension, -27% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.27673
Why we like it:
78.6%, -27% Fibonacci retracement, 100% fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.26992, which is in line with 78.6%, -61.8% Fibonacci retracement, 78.6% Fibonacci extension and descending trendline support. We could potentially see price rise towards our 1st resistance level at 1.27714. It is worth noting that price is also trending above a tentative ascending trendline, in line with our bullish view.
Pivot: 1.26917
Why we like it:
38.2%, 61.8% Fibonacci retracement, 78.6% Fibonacci extension and descending trendline support.
1st Support: 1.26490
Why we like it:
61.8%, 127% Fibonacci extension, -27% fibonacci retracement and horizontal swing low support.
1st Resistance: 1.27673
Why we like it:
78.6%, -27% Fibonacci retracement, 100% fibonacci extension and horizontal graphical resistance.
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.