USDCAD, H4 is approaching our Pivot, potential for a drop.
Description:
Price is approaching our Pivot point at 1.24265, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop here towards our 1st support level at 1.23402, in line with 100% fibonacci extension. It is worth noting that price is under the Ichimoku clouds, in line with our bearish analysis.
Pivot: 1.24265
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.23402
Why we like it:
100% fibonacci extension
1st Resistance: 1.24839
Why we like it:
61.8%, 78.6% fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.24265, which is in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see price drop here towards our 1st support level at 1.23402, in line with 100% fibonacci extension. It is worth noting that price is under the Ichimoku clouds, in line with our bearish analysis.
Pivot: 1.24265
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 1.23402
Why we like it:
100% fibonacci extension
1st Resistance: 1.24839
Why we like it:
61.8%, 78.6% fibonacci retracement 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.