#USDCAD, H4 is trending beneath our Pivot, potential for a drop.
Description:
Price is trending beneath our Pivot point at 1.20862, which is in line with 50% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. We could potentially see a price drop here towards our 1st support level at 1.19987, in line with 161.8 % fibonacci retracement, 100% fibonacci extension and horizontal swing low support. It is worth noting that the price is under the Ichimoku cloud resistance and descending trendline, in line with our bearish analysis.
Pivot: 1.20862
Why we like it:
50% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.19987
Why we like it:
161.8 % fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 1.21309
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is trending beneath our Pivot point at 1.20862, which is in line with 50% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. We could potentially see a price drop here towards our 1st support level at 1.19987, in line with 161.8 % fibonacci retracement, 100% fibonacci extension and horizontal swing low support. It is worth noting that the price is under the Ichimoku cloud resistance and descending trendline, in line with our bearish analysis.
Pivot: 1.20862
Why we like it:
50% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Support: 1.19987
Why we like it:
161.8 % fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 1.21309
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension 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.