#USDCAD, H4 is reversing from our Pivot, potential for a drop.
Description:
Price is testing our Pivot point at 1.21786, which is in line with 127% fibonacci retracement and horizontal graphical area. We could potentially see price drop from here towards our 1st support level at 1.21215, in line with 78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area.
Pivot: 1.21786
Why we like it:
127% fibonacci retracement and horizontal graphical area
1st Support: 1.21215
Why we like it:
78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area
1st Resistance: 1.22273
Why we like it:
161.8% fibonacci retracement, 161.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.21786, which is in line with 127% fibonacci retracement and horizontal graphical area. We could potentially see price drop from here towards our 1st support level at 1.21215, in line with 78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area.
Pivot: 1.21786
Why we like it:
127% fibonacci retracement and horizontal graphical area
1st Support: 1.21215
Why we like it:
78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area
1st Resistance: 1.22273
Why we like it:
161.8% fibonacci retracement, 161.8% 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.