USDCAD, H4 has reversed from our Pivot, potential for a drop.
Description:
Price has reversed from our Pivot point at 1.26262, which is in line with 61.8% Fibonacci retracement and 61.8% fibonacci extension. We could potentially see price drop towards our 1st support level at 1.25318, a fibonacci confluence. It is worth noting that price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1.26262
Why we like it:
61.8% Fibonacci retracement and 61.8% fibonacci extension
1st Support: 1.25318
Why we like it:
78.6%, -27%, -68% Fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 1.27133
Why we like it:
78.6%, 78.6%, 127% Fibonacci retracement, descending trendline resistance and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point at 1.26262, which is in line with 61.8% Fibonacci retracement and 61.8% fibonacci extension. We could potentially see price drop towards our 1st support level at 1.25318, a fibonacci confluence. It is worth noting that price is trending under the descending trendline, in line with our bearish analysis.
Pivot: 1.26262
Why we like it:
61.8% Fibonacci retracement and 61.8% fibonacci extension
1st Support: 1.25318
Why we like it:
78.6%, -27%, -68% Fibonacci retracement and 161.8% fibonacci extension
1st Resistance: 1.27133
Why we like it:
78.6%, 78.6%, 127% Fibonacci retracement, descending trendline resistance and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.