#USDCAD Potential bullish bounce
Description
Price is approaching pivot level of 1.25105, which is in line with 127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap support. A reversal from this level may see price take resistance at price 1.25979. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 1.24761.8% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.25105
Why we like it:
127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap support
1st Support:
1.24700
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.25979
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 1.25105, which is in line with 127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap support. A reversal from this level may see price take resistance at price 1.25979. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 1.24761.8% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.25105
Why we like it:
127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal overlap support
1st Support:
1.24700
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.25979
Why we like it:
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.