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.
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