#USDCAD approaching pivot, potential for rise!
Description
Price has broken above our pivot level at 1.23747 which is in line with 38.2% Fibonacci retracement level & horizontal overlap support . We could potentially see a further rise from here towards 1.24041, which coincides with 78.6% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 1.23555, which coincides with 50.0% Fibonacci retracement levelhorizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.23747
Why we like it:
38.2% Fibonacci retracement level & horizontal overlap support
1st Support:
1.23555
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing low support
1st Resistance:
1.24041
Why we like it:
76.4% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 1.23747 which is in line with 38.2% Fibonacci retracement level & horizontal overlap support . We could potentially see a further rise from here towards 1.24041, which coincides with 78.6% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 1.23555, which coincides with 50.0% Fibonacci retracement levelhorizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.23747
Why we like it:
38.2% Fibonacci retracement level & horizontal overlap support
1st Support:
1.23555
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing low support
1st Resistance:
1.24041
Why we like it:
76.4% Fibonacci retracement levelhorizontal overlap 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.