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USDCAD H1 | Bullish Bounce Off Support
Based on the H1 chart analysis, we can see that the price has bounced off the buy entry which is a pullback support and could rise from this level to the upside.
Buy entry is at 1.3998, whichis a pullback support.
Stop loss is at 1.3983, whichis a pullback support that aligns with the 138.2% Fibonacci extension.
Take profit is at 1.4028, whichis a pullback resistance that aligns with the 50% Fibonacci retracement.
Stratos Markets Limited (tradu.com/uk ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com/eu ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Buy entry is at 1.3998, whichis a pullback support.
Stop loss is at 1.3983, whichis a pullback support that aligns with the 138.2% Fibonacci extension.
Take profit is at 1.4028, whichis a pullback resistance that aligns with the 50% Fibonacci retracement.
Stratos Markets Limited (tradu.com/uk ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd (tradu.com/eu ):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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