#USDCAD, H4 is approaching our Pivot, potential for a bounce.
Description:
Price is approaching our Pivot point at 1.21684, which is in line with 50% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area. We could potentially see price rise from here towards our 1st resistance level at 1.22379, in line with -27% fibonacci retracement and 100% fibonacci extension. Price is currently above the moving average, in line with our bullish analysis.
Pivot: 1.21684
Why we like it:
50% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.21268
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical area
1st Resistance: 1.22379
Why we like it:
-27% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.21684, which is in line with 50% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area. We could potentially see price rise from here towards our 1st resistance level at 1.22379, in line with -27% fibonacci retracement and 100% fibonacci extension. Price is currently above the moving average, in line with our bullish analysis.
Pivot: 1.21684
Why we like it:
50% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.21268
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical area
1st Resistance: 1.22379
Why we like it:
-27% fibonacci retracement and 100% 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.