#USDCAD approaching pivot, potential for rise!
Description
Price has broken above our pivot level at 1.27025 which is in line with 61.8% Fibonacci retracement levelhorizontal overlap support . We could potentially see a further rise from here towards 1.28231, which coincides with 127.2% Fibonacci extension levelhorizontal swing high resistance. Finally, we can expect price to take support at 1.26452, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.27025
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Support:
1.26452
Why we like it:
horizontal swing low support
1st Resistance:
1.28231
Why we like it:
127.2% Fibonacci extension levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.27025 which is in line with 61.8% Fibonacci retracement levelhorizontal overlap support . We could potentially see a further rise from here towards 1.28231, which coincides with 127.2% Fibonacci extension levelhorizontal swing high resistance. Finally, we can expect price to take support at 1.26452, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.27025
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Support:
1.26452
Why we like it:
horizontal swing low support
1st Resistance:
1.28231
Why we like it:
127.2% Fibonacci extension levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.