#USDCAD, H4 approaching Pivot, potential for bounce.
Price is approaching pivot level of 1.25111, which is in line with 61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal overlap support. A bounce from this level may see price take resistance at price 1.27664. This level coincides with 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance. This is further supported by how price is now holding above the EMA .
Pivot:
1.25111
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal overlap support
1st Support:
1.24325
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.27664
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
1.25111
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci retracement level & horizontal overlap support
1st Support:
1.24325
78.6% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.27664
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal overlap 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.
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.