USDCAD, H4 testing our Pivot, potential for a bullish breakout
Description:
Price is currently testing our Pivot point at 1.25289, which is in line with 78.6%, 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area. We could potentially see price rise here towards our 1st resistance level at 1.26300, a fibonacci confluence. It is worth noting that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1.25289
Why we like it:
78.6%, 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area
1st Support: 1.24459
Why we like it:
38.2% Fibonacci retracement, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 1.26300
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is currently testing our Pivot point at 1.25289, which is in line with 78.6%, 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area. We could potentially see price rise here towards our 1st resistance level at 1.26300, a fibonacci confluence. It is worth noting that MACD is above the 0 line, in line with our bullish analysis.
Pivot: 1.25289
Why we like it:
78.6%, 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area
1st Support: 1.24459
Why we like it:
38.2% Fibonacci retracement, 161.8% fibonacci extension and horizontal swing low.
1st Resistance: 1.26300
Why we like it:
127% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
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.