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03.07.202009:17 Forex Analysis & Reviews: XAU/USD facing bullish pressure, potential for further upside!

Exchange Rates 03.07.2020 analysis

Trading Recommendation

Entry: 1764.89

Reason for Entry: Horizontal overlap support, 61.8% fibonacci retracement and 78.6% fibonacci extension

Take Profit: 1792.66

Reason for Take Profit: -27.2%, 227.2% fibonacci retracement, 100% fibonacci extension

Stop Loss: 1746.85

Reason for Take Profit: Horizontal swing low support, 127.2% fibonacci extension

*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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UDUSD bullish breakout | 9th Dec 2021
On the H4, price has broken out of the descending trendline resistance, signifying bullish momentum. We can expect price to bounce from 1st Support in line with 23.6% Fibonacci retracement towards 1st Resistance in line with 61.8% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish.
Author: Dean Leo
03:02 2021-12-09 UTC--5
3448
NZDUSD Potential For Dip | 9th Dec 2021
Prices are on bearish momentum and abiding to our bearish trendline. We see potential for a dip from our 1st resistance at 0.68172 which is a graphical overlap and area of Fibonacci confluences towards our 1st support at 0.67439 in line with 127.2% Fibonacci extension. Breaking the 1st support will.
Author: Dean Leo
03:00 2021-12-09 UTC--5
2443
USDCAD Bullish Pressure | 9th Dec 2021
On the H4, with price approaching the support of the stochastics indicator, we have a bullish bias that price will rise from 1st support at 1.26227 in line with the graphical overlap support and 61.8% Fibonacci retracement to 1st resistance at 1.27252 in line with the graphical swing high.
Author: Dean Leo
02:59 2021-12-09 UTC--5
3463
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