USDCAD, H4 is testing our Pivot, potential for a bounce.
Description:
Price is currently testing our Pivot point at 1.24637, which is in line with 38.2%, 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical area. We could potentially see price rise here towards our 1st resistance level at 1.25872, a fibonacci confluence. It is worth noting price has broken above the moving average, in line with our bullish analysis.
Pivot: 1.24637
Why we like it:
38.2%, 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical area
1st Support: 1.23839
Why we like it:
88% Fibonacci retracement, 127% fibonacci extension and horizontal swing low.
1st Resistance: 1.25872
Why we like it:
61.8%, 78.6% Fibonacci retracement and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is currently testing our Pivot point at 1.24637, which is in line with 38.2%, 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical area. We could potentially see price rise here towards our 1st resistance level at 1.25872, a fibonacci confluence. It is worth noting price has broken above the moving average, in line with our bullish analysis.
Pivot: 1.24637
Why we like it:
38.2%, 61.8% fibonacci retracement, 50% fibonacci extension and horizontal graphical area
1st Support: 1.23839
Why we like it:
88% Fibonacci retracement, 127% fibonacci extension and horizontal swing low.
1st Resistance: 1.25872
Why we like it:
61.8%, 78.6% Fibonacci retracement and horizontal graphical overlap.
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.