#USDCAD, H4 is testing our Pivot, potential for a rise.
Description:
Price is testing our Pivot point at 1.21176, which is in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from here towards our 1st resistance level at 1.21792, in line with 127% fibonacci retracement and horizontal swing high resistance. It is worth noting that the price is above the Ichimoku cloud and MACD is above 0, in line with our bullish analysis.
Pivot: 1.21176
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.20761
Why we like it:
50% fibonacci retracement and 78.6% fibonacci extension
1st Resistance: 1.21792
Why we like it:
127% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is testing our Pivot point at 1.21176, which is in line with 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. We could potentially see price rise from here towards our 1st resistance level at 1.21792, in line with 127% fibonacci retracement and horizontal swing high resistance. It is worth noting that the price is above the Ichimoku cloud and MACD is above 0, in line with our bullish analysis.
Pivot: 1.21176
Why we like it:
78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 1.20761
Why we like it:
50% fibonacci retracement and 78.6% fibonacci extension
1st Resistance: 1.21792
Why we like it:
127% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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