#USDCAD, H4 approaching our Pivot, potential for a drop.
Description
Price is approaching pivot in line with horizontal swing high resistance in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push down towards horizontal pullback support in line with ascending trendline support together with 88% Fibonacci retracement and 100% Fibonacci extension. If prices continue to push up, prices might face resistance from 61.8% Fibonacci retracement and 161.8% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
Pivot: 1.23307
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
1st Support: 1.22038
Why we like it:
88% fibonacci retracement, 100% fibonacci extension and horizontal pullback support
1st Resistance: 1.24032
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical swing high resistance.
Trading FX & CFDs carries high risk.
Price is approaching pivot in line with horizontal swing high resistance in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Prices might push down towards horizontal pullback support in line with ascending trendline support together with 88% Fibonacci retracement and 100% Fibonacci extension. If prices continue to push up, prices might face resistance from 61.8% Fibonacci retracement and 161.8% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
Pivot: 1.23307
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
1st Support: 1.22038
Why we like it:
88% fibonacci retracement, 100% fibonacci extension and horizontal pullback support
1st Resistance: 1.24032
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical swing high 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.