USDCAD, H4 is approaching our Pivot, potential for a drop.
Description:
Price is pulling back towards our Pivot point at 1.22309, which is in line with 38.2%, 61.8% fibonacci retracement and 100% fibonacci extension. We could potentially see a price drop here towards our 1st support level at 1.21422, in line with 161.8% fibonacci extension and horizontal swing low. It is worth noting that the price is under the moving average, in line with our bearish analysis.
Pivot: 1.22309
Why we like it:
38.2%, 61.8% fibonacci retracement and 100% fibonacci extension
1st Support: 1.21422
Why we like it:
161.8% fibonacci extension and horizontal swing low
1st Resistance: 1.22779
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and moving average resistance.
Trading FX & CFDs carries high risk.
Price is pulling back towards our Pivot point at 1.22309, which is in line with 38.2%, 61.8% fibonacci retracement and 100% fibonacci extension. We could potentially see a price drop here towards our 1st support level at 1.21422, in line with 161.8% fibonacci extension and horizontal swing low. It is worth noting that the price is under the moving average, in line with our bearish analysis.
Pivot: 1.22309
Why we like it:
38.2%, 61.8% fibonacci retracement and 100% fibonacci extension
1st Support: 1.21422
Why we like it:
161.8% fibonacci extension and horizontal swing low
1st Resistance: 1.22779
Why we like it:
61.8% fibonacci retracement, 161.8% fibonacci extension and moving average 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.