#USDCAD approaching pivot, potential for a reversal!
Description
Price is approaching pivot level of 1.25587 where we have 50.0% Fibonacci retracement level & horizontal overlap resistance lining up. A reversal from this level might see price take support at 1.24234, which is in line with 78.6% Fibonacci retracement level, 88.6% Fibonacci extension level & horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 1.26736, which coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
1.25587
Why we like it:
50.0% Fibonacci retracement level & horizontal overlap resistance
1st Support:
1.24234
78.6% Fibonacci retracement level, 88.6% Fibonacci extension level & horizontal swing low support
1st Resistance:
1.26736
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.