#USDCAD, H4 is approaching our Pivot, potential for a bounce.
Description:
Price is approaching our Pivot point at 1.23336, which is in line with 23.6% fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from here towards our 1st resistance level at 1.24189, in line with 61.8% fibonacci retracement and 127% fibonacci extension. Do note that MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.23336
Why we like it:
23.6% fibonacci retracement and horizontal graphical overlap
1st Support: 1.22724
Why we like it:
50%, 78.6% fibonacci retracement and horizontal graphical area
1st Resistance: 1.24189
Why we like it:
61.8% fibonacci retracement and 127% fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.23336, which is in line with 23.6% fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from here towards our 1st resistance level at 1.24189, in line with 61.8% fibonacci retracement and 127% fibonacci extension. Do note that MACD is above the 0-line, in line with our bullish analysis.
Pivot: 1.23336
Why we like it:
23.6% fibonacci retracement and horizontal graphical overlap
1st Support: 1.22724
Why we like it:
50%, 78.6% fibonacci retracement and horizontal graphical area
1st Resistance: 1.24189
Why we like it:
61.8% fibonacci retracement and 127% fibonacci extension
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.