Type: Bearish ReversalKey Levels:Resistance: 1.28125Pivot: 1.27819Support: 1.26645Preferred Case:On the H4 timeframe, We see the possibility of bearish continuation from our pivot at 1.27819 in line with horizontal swing high resistance towards our 1st support at 1.26645 in line with the 100% Fibonacci extension level. Our bearish bias is further supported by prices reversing off the RSI indicator.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 1.28125 in line with the 127.2% Fibonacci extension level.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-h4-or-potential-bearish-continuation"
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