USDCAD is approaching our Pivot, potential for a drop.
Description:
Price is approaching our Pivot point at 1.27258, which is in line with 61.8%, 78.6% Fibonacci retracement, 88% fibonacci extension, descending trendline resistance and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 1.25001, a fibonacci confluence. It is worth noting that price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1.27258
Why we like it:
61.8%, 78.6% Fibonacci retracement, 88% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 1.25001
Why we like it:
88%, -61.8% Fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.28373
Why we like it:
88%, 161.8% Fibonacci retracement and horizontal swing high.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.27258, which is in line with 61.8%, 78.6% Fibonacci retracement, 88% fibonacci extension, descending trendline resistance and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 1.25001, a fibonacci confluence. It is worth noting that price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1.27258
Why we like it:
61.8%, 78.6% Fibonacci retracement, 88% fibonacci extension, descending trendline resistance and horizontal graphical overlap
1st Support: 1.25001
Why we like it:
88%, -61.8% Fibonacci retracement and 61.8% fibonacci extension
1st Resistance: 1.28373
Why we like it:
88%, 161.8% Fibonacci retracement and horizontal swing high.
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.