empty
 
 

08.07.202110:14 Forex Analysis & Reviews: EURGBP approaching 1st resistance, potential for reversal!

Exchange Rates 08.07.2021 analysis

Price is approaching 1st resistance, in line with 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal overlap resistance, where we could see a reversal and further drop towards 1st support, in line with 78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing low support. Price is also holding below moving average and descending trendline resistances, showing signs of bearish pressure.

Trading Recommendation

Entry: 0.85643

Reason for Entry:

61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal overlap resistance

Take Profit: 0.85410

Reason for Take Profit:

78.6% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing low support

Stop Loss: 0.85830

Reason for Stop Loss:

161.8% Fibonacci extension and 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
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Daily Video Analysis: BTCUSD H4, Strong Bearish Reversal
Today we take a look at BTCUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.
Author: Dean Leo
00:35 2021-12-07 UTC--5
673
AUDUSD bearish continuation | 7th Dec 2021
On the H4, price is abiding to the descending trendline resistance, signifying bearish momentum. Price dropped below the daily overlap support, we can expect price to drop from 1st Resistance in line with 38.2% FIbonacci retracement and 61.8% Fibonacci projection towards 1st Support in line with.
Author: Dean Leo
00:34 2021-12-07 UTC--5
568
GBPAUD Potential For Dips| 7th Dec 2021
Prices are on a bearish momentum and abiding to our bearish trendline. We see potential for a dip from our 1st resistance at 1.89166 which is a graphical overlap and area of Fibonacci confluences towards our 1st support at 1.85272 which is an area of Fibonacci confluences. Breaking the 1st support.
Author: Dean Leo
00:32 2021-12-07 UTC--5
553
Show more
Can't speak right now?
Ask your question in the chat.