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Forex Analysis & Reviews: USDCAD Potential For Bullish Rise | 24th August 2022
time 24.08.2022 06:05 AM
time Relevance up to, 25.08.2022 06:05 AM

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On the H4, with the price above the ichimoku cloud and moving within the ascending trendline, we have a bullish bias that if the price break the 1st resistance at 1.29836, which is the current swing high and 38.2% fibonacci retracement, the price may rise to the 2nd resistance at 1.30632, which is in line with the swing high. Alternatively, the price may drop to the 1st support at 1.28899, where the 50% fibonacci retracement is. Take note the price of 1.29328 could be the intermediate support, if the price breaks this support, the ascending trendline will be broken.

Trading Recommendation

Entry: 1.29836

Reason for Entry:Current swing high and 38.2% fibonacci retracement,

Take Profit: 1.30632

Reason for Take Profit: Swing highStop Loss: 1.28899

Reason for Stop Loss:

50% fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2023
USDCAD
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USDCAD, H4 Bearish breakout opportunity
Today we take a look at USDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.
作者: Dean Leo
03:58 2023-01-27 UTC--5
853
USDCAD Potential for Bearish Drop towards previous swing low
Description : Looking at the H4 chart, my overall bias for USDCAD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market structure. Looking for a pullback sell entry at 1.33524, where the overlap resistance is. Stop loss will be at 1.34280, where the rece.
作者: Dean Leo
02:02 2023-01-27 UTC--5
1258
AUDUSD potential for rise to recent swing high resistance
Looking at the H4 chart, my overall bias for AUDUSD is bullish due to the current price being above the Ichimoku cloud; an ascending trend line adds confluence to my bias,indicating a bullish market. Looking for a buy entry at 0.71438 where the recent swing high is. we are looking to take profit a.
作者: Dean Leo
02:01 2023-01-27 UTC--5
1633
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