#USDCAD, H4 is above our Pivot, potential for a bounce.
Description:
Price is above our Pivot point at 1.21094, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a price rise from here towards our 1st resistance level at 1.21588, in line with -27% fibonacci retracement, 100% fibonacci extension and horizontal swing high resistance. It is worth noting that the price is above the Ichimoku cloud support, in line with our bullish analysis.
Pivot: 1.20862
Why we like it:
50% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.20851
Why we like it:
161.8 % fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.21588
Why we like it:
-27% fibonacci retracement, 100% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is above our Pivot point at 1.21094, which is in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. We could potentially see a price rise from here towards our 1st resistance level at 1.21588, in line with -27% fibonacci retracement, 100% fibonacci extension and horizontal swing high resistance. It is worth noting that the price is above the Ichimoku cloud support, in line with our bullish analysis.
Pivot: 1.20862
Why we like it:
50% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.20851
Why we like it:
161.8 % fibonacci retracement, 61.8% fibonacci extension and horizontal swing low support
1st Resistance: 1.21588
Why we like it:
-27% fibonacci retracement, 100% fibonacci extension and horizontal 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.