USDCAD, H4 is approaching our Pivot, potential for a drop.
Description:
Price is approaching our Pivot point at 1.25698, which is in line with 78.6% fibonacci retracement, 61.8%, 161.8% fibonacci extension, descending trendline resistance and horizontal swing high. We could potentially see price drop here towards our 1st support level at 1.25258, 88% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support. It is worth noting that price is under the moving average, in line with our bearish analysis.
Pivot: 1.25698
Why we like it:
78.6% fibonacci retracement, 61.8%, 161.8% fibonacci extension, descending trendline resistance and horizontal swing high
1st Support: 1.25258
Why we like it:
88% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 1.26642
Why we like it:
100% Fibonacci extension, 127% fibonacci retracement and horizontal graphical swing high.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.25698, which is in line with 78.6% fibonacci retracement, 61.8%, 161.8% fibonacci extension, descending trendline resistance and horizontal swing high. We could potentially see price drop here towards our 1st support level at 1.25258, 88% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support. It is worth noting that price is under the moving average, in line with our bearish analysis.
Pivot: 1.25698
Why we like it:
78.6% fibonacci retracement, 61.8%, 161.8% fibonacci extension, descending trendline resistance and horizontal swing high
1st Support: 1.25258
Why we like it:
88% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 1.26642
Why we like it:
100% Fibonacci extension, 127% fibonacci retracement and horizontal graphical swing high.
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.