#USDCAD Bullish Pressure, Potential Rise!
Description
With price bouncing off the support of the ichimoku cloud , we have a bullish bias that price will rise from pivot at 1.28421 in line with the graphical overlap resistance, 61.8% Fibonacci retracement and 78.6% Fibonacci projection to 1st resistance at 1.29454 in line with the 78.6% Fibonacci projection and graphical swing high resistance.
Alternatively, we may see price break pivot structure and head for 1st support at 1.27671 in line with the horizontal swing low support.
Pivot:
1.28421
Why we like it:
Graphical horizontal overlap resistance, 61.8% Fibonacci retracement and 78.6% Fibonacci projection
1st Support:
1.27671
Why we like it:
Graphical horizontal swing low support.
1st Resistance:
1.29454
Why we like it:
Graphical horizontal swing high resistance and 78.6% Fibonacci projection
Trading FX & CFDs carries high risk.
With price bouncing off the support of the ichimoku cloud , we have a bullish bias that price will rise from pivot at 1.28421 in line with the graphical overlap resistance, 61.8% Fibonacci retracement and 78.6% Fibonacci projection to 1st resistance at 1.29454 in line with the 78.6% Fibonacci projection and graphical swing high resistance.
Alternatively, we may see price break pivot structure and head for 1st support at 1.27671 in line with the horizontal swing low support.
Pivot:
1.28421
Why we like it:
Graphical horizontal overlap resistance, 61.8% Fibonacci retracement and 78.6% Fibonacci projection
1st Support:
1.27671
Why we like it:
Graphical horizontal swing low support.
1st Resistance:
1.29454
Why we like it:
Graphical horizontal swing high resistance and 78.6% Fibonacci projection
Trading FX & CFDs carries high risk.
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