USDCAD approaching our Pivot, potential for a bounce.
Description:
Price is approaching our Pivot point at 1.27899, which is in line with 78.6% Fibonacci retracement, 61.8%, 127% Fibonacci extension, ascending trendline support and horizontal graphical overlap. We could potentially see price rise towards our 1st resistance level at 1.28957. It is worth noting that price is trending above the ascending trendline in line with our bullish view.
Pivot: 1.27899
Why we like it:
78.6% Fibonacci retracement, 61.8%, 127% Fibonacci extension, ascending trendline support and horizontal graphical overlap
1st Support: 1.27646
Why we like it:
88% Fibonacci extension, 50% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.28957
Why we like it:
-27% Fibonacci retracement, 78.6%, 161.8% fibonacci extension.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 1.27899, which is in line with 78.6% Fibonacci retracement, 61.8%, 127% Fibonacci extension, ascending trendline support and horizontal graphical overlap. We could potentially see price rise towards our 1st resistance level at 1.28957. It is worth noting that price is trending above the ascending trendline in line with our bullish view.
Pivot: 1.27899
Why we like it:
78.6% Fibonacci retracement, 61.8%, 127% Fibonacci extension, ascending trendline support and horizontal graphical overlap
1st Support: 1.27646
Why we like it:
88% Fibonacci extension, 50% fibonacci retracement and horizontal graphical overlap
1st Resistance: 1.28957
Why we like it:
-27% Fibonacci retracement, 78.6%, 161.8% fibonacci extension.
Trading FX & CFDs carries high risk.
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