USDCAD, H4 is reversing from our Pivot, potential for a drop.
Description:
Price is currently reversing from our Pivot point at 1.25954, which is in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area. We could potentially see price drop here towards our 1st support level at 1.24620, a fibonacci confluence. It is worth noting that the MACD line has just crossed the signal line, hinting of a reversal in line with our analysis.
Pivot: 1.25954
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.24620
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.27069
Why we like it:
88% Fibonacci retracement, descending trendline resistance and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is currently reversing from our Pivot point at 1.25954, which is in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area. We could potentially see price drop here towards our 1st support level at 1.24620, a fibonacci confluence. It is worth noting that the MACD line has just crossed the signal line, hinting of a reversal in line with our analysis.
Pivot: 1.25954
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical area
1st Support: 1.24620
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap.
1st Resistance: 1.27069
Why we like it:
88% Fibonacci retracement, descending trendline resistance and horizontal graphical overlap.
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.