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30.06.202006:18 Forex Analysis & Reviews: EUR/USD facing bearish pressure, potential for further drop

Exchange Rates 30.06.2020 analysis

Trading Recommendation

Entry: 1.12888

Reason for Entry: Horizontal swing high resistance and 61.8% fibonacci retracement

Take Profit: 1.11514

Reason for Take Profit: Horizontal pullback support, 50% fibonacci retracement, 78.6% fibonacci extension

Stop Loss: 1.13382

Reason for Take Profit: Horizontal swing high resistance

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2021
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AUDUSD holding above descending trendline support! Further bounce incoming!
AUDUSD broke above descending trendline resistance (now support). With technical indicators showing room for further bullish momentum, a further push up above our 1st support at 0.72777 towards 1st resistance at 0.73736 could be possible.
Author: Dean Leo
01:23 2021-09-24 UTC--5
4633
UKOIL reversed off resistance, potential drop!
Price is approaching 1st resistance at 77.72 in line with Horizontal swing high and 76.4% Fibonacci extension where it could see a reverse down to 1st support at 73.50 in line with 61.8% Fibonacci retracement and 23.6% Fibonacci extension. Our bearish bias is further supported by how Stochastic is.
Author: Dean Leo
01:19 2021-09-24 UTC--5
4558
USDJPY short-term bearish drop | 24th Sep 2021
Price is holding above the ascending trendline support, however we are expecting the price to be making a short-term bearish drop as price has approached a strong resistance level where price reversed twice at that level. We can expect the price to drop from the 1st Resistance and ride the bearish.
Author: Dean Leo
01:18 2021-09-24 UTC--5
5278
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