#USDCAD, H4 is reversing from our Pivot, potential for a drop.
Description:
Price is testing our Pivot point at 1.21786, which is in line with 127% fibonacci retracement and horizontal graphical area. We could potentially see price drop from here towards our 1st support level at 1.21215, in line with 78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area.
Pivot: 1.21786
Why we like it:
127% fibonacci retracement and horizontal graphical area
1st Support: 1.21215
Why we like it:
78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area
1st Resistance: 1.22273
Why we like it:
161.8% fibonacci retracement, 161.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.21786, which is in line with 127% fibonacci retracement and horizontal graphical area. We could potentially see price drop from here towards our 1st support level at 1.21215, in line with 78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area.
Pivot: 1.21786
Why we like it:
127% fibonacci retracement and horizontal graphical area
1st Support: 1.21215
Why we like it:
78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical area
1st Resistance: 1.22273
Why we like it:
161.8% fibonacci retracement, 161.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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