#USDCAD, H4 has bounced from our Pivot, potential for a rise.
Description:
Price has bounced our Pivot point at 1.20571, which is in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low. We could potentially see price rise from here towards our 1st resistance level at 1.21240, in line with 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance. It is worth noting that the MACD is above 0, in line with our bullish analysis.
Pivot: 1.20571
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low
1st Support: 1.20218
Why we like it:
127% fibonacci extension and horizontal swing low.
1st Resistance: 1.21240
Why we like it:
127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has bounced our Pivot point at 1.20571, which is in line with 78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low. We could potentially see price rise from here towards our 1st resistance level at 1.21240, in line with 127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance. It is worth noting that the MACD is above 0, in line with our bullish analysis.
Pivot: 1.20571
Why we like it:
78.6% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low
1st Support: 1.20218
Why we like it:
127% fibonacci extension and horizontal swing low.
1st Resistance: 1.21240
Why we like it:
127% fibonacci retracement, 61.8% fibonacci extension and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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