empty
 
 

21.09.202107:35 Forex Analysis & Reviews: GBPJPY bearish pressure | 21st Sep 2021

Exchange Rates 21.09.2021 analysis

Price broke downwards of a wedge pattern, signifying a bearish momentum. We can expect price to make a small bounce up to 1st Resistance in line with 23.6% Fibonacci retracement and push back down to 1st Support in line with previous swing low. Our bearish bias is further supported by the price holding below the 50period MA and the MACD indicator showing the MACD line crossed below the signal line.

Trading Recommendation

Entry: 150.113

Reason for Entry:

23.6% Fibonacci retracement

Take Profit: 149.184

Reason for Take Profit:

Horizontal swing low

Stop Loss: 150.585

Reason for Stop Loss:

38.2% Fibonacci retracement

*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 Potential Bullish Breakout
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
01:45 2021-11-29 UTC--5
1408
AUDCHF short-term bullish bounce | 29th Nov 2021
On the H4 timeframe, price is abiding to the ascending trendline support on the daily and descending trendline resistance on the H4 forming a potential triangle pattern. We can expect the price to bounce from 1st Support in line with 23.6% Fibonacci retracement to 1st Resistance in line with 161.8%.
Author: Dean Leo
01:09 2021-11-29 UTC--5
3718
EURGBP Potential For Dips | 29th Nov 2021
Prices have reached a Pivot and are on a bearish momentum. We see potential for continuous dip from our 1st resistance at 0.84744 which is an area of Fibonacci confluences and also graphical overlap towards our 1st support at 0.84214 in line with 61.8% and 78.6% Fibonacci retracement..
Author: Dean Leo
01:08 2021-11-29 UTC--5
3058
Show more
Can't speak right now?
Ask your question in the chat.