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  4. ​USD/CAD Supported at 61.8 and 78.6 Fibonacci Retracement

​USD/CAD Supported at 61.8 and 78.6 Fibonacci Retracement

July 19, 2018 11:46


Source: Admiral Markets MT5 with MT5SE Add-on

The USD/CAD is supported at 61.8 and 78.6 fib retracement of the last swing. 1.3166-84 is the first POC zon, where bounce is possible, while the POC2 is 1.3125-1.3140. Both zones could be valid for longs providing that W L3 holds – 1.3110. Targets are 1.3220 and 1.3264. Continuation is only possible above 1.3265 towards 1.3307.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

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