#USDCAD, H4 is reversing from our Pivot, potential for a rise.
Description:
Price is reversing our Pivot point at 1.23740, which is in line with 50%, 78.6% fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from here towards our 1st resistance level at 1.25505, in line with -27%, -27% fibonacci retracement horizontal graphical swing high. Do note that price is above the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.23740
Why we like it:
50%, 78.6% fibonacci retracement and horizontal graphical overlap
1st Support: 1.23104
Why we like it:
127%, 78.6% fibonacci retracement and horizontal graphical area
1st Resistance: 1.25505
Why we like it:
-27%, -27% fibonacci retracement horizontal graphical swing high
Trading FX & CFDs carries high risk.
Price is reversing our Pivot point at 1.23740, which is in line with 50%, 78.6% fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from here towards our 1st resistance level at 1.25505, in line with -27%, -27% fibonacci retracement horizontal graphical swing high. Do note that price is above the Ichimoku cloud, in line with our bullish analysis.
Pivot: 1.23740
Why we like it:
50%, 78.6% fibonacci retracement and horizontal graphical overlap
1st Support: 1.23104
Why we like it:
127%, 78.6% fibonacci retracement and horizontal graphical area
1st Resistance: 1.25505
Why we like it:
-27%, -27% fibonacci retracement 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.