#USDCAD, H4 has bounced from our Pivot, potential for a rise.
Description:
Price has bounced our Pivot point at 1.20571, which is in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low. We could potentially see price rise from here towards our 1st resistance level at 1.21240, in line with 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance. It is worth noting that the MACD is above 0, in line with our bullish analysis.
Pivot: 1.20571
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low
1st Support: 1.20218
Why we like it:
127% fibonacci extension and horizontal swing low.
1st Resistance: 1.21240
Why we like it:
127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has bounced our Pivot point at 1.20571, which is in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low. We could potentially see price rise from here towards our 1st resistance level at 1.21240, in line with 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance. It is worth noting that the MACD is above 0, in line with our bullish analysis.
Pivot: 1.20571
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low
1st Support: 1.20218
Why we like it:
127% fibonacci extension and horizontal swing low.
1st Resistance: 1.21240
Why we like it:
127% fibonacci retracement, 61.8% 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.