empty
 
 

02.12.202108:14 Forex Analysis & Reviews: AUDCAD Potential For Dips | 2nd Dec 2021

Exchange Rates 02.12.2021 analysis

Prices are on a bearish momentum and abiding to our bearish trendline. We see potential for continuous dip from our 1st resistance at 0.9132 in line with 50% and 23.6% Fibonacci retracement and also graphical overlap towards our 1st support at 0.90645 in line with 61.8% Fibonacci extension and 78.6% Fibonacci extension. Breaking the 1st support will find prices dipping further towards our 2nd support at 0.90237 in line with 100% Fibonacci extension and 127.2% Fibonacci extension which is a graphical swing low. RSI is showing bearish momentum. Alternatively, our stop loss will be placed at 2nd resistance at 0.91638 in line with 38.2% Fibonacci retracement.

Trading Recommendation

Entry: 0.9132

Reason for Entry:

50% and 23.6% Fibonacci retracement and also graphical overlap

Take Profit: 0.90645

Reason for Take Profit:

61.8% Fibonacci extension and 78.6% Fibonacci extension

Stop Loss: 0.90237

Reason for Stop Loss:

100% Fibonacci extension and 127.2% Fibonacci extension which is a graphical swing low

*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
© 2007-2022
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: BRENT CRUDE OIL, D1 Reversal From All Time High
Today we take a look at BRENT CRUDE OIL. 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
05:24 2022-01-17 UTC--5
1828
AUDUSD potential bullish bounce | 17th Jan 2022
On the H4, price is reacting within the ascending channel, signifying an overall bullish momentum. Price is approaching the 1st Support, we can expect to see price make a bullish bounce from 1st Support in line with 100% Fibonacci projection, 78.6% Fibonacci retracement and ascending channel.
Author: Dean Leo
02:06 2022-01-17 UTC--5
3703
NZDUSD Bullish Bounce | 14th Jan 2022
On the H4 timeframe, prices is trading in an ascending channel and is near 1st support level of 0.67793 which is also 100% Fibonacci projection and 78.6% Fibonacci retracement. Price can potentially go to the 1st resistance level of 0.68896 which is the graphical swing high level. Our bullish bias.
Author: Dean Leo
02:03 2022-01-17 UTC--5
3223
Show more
Can't speak right now?
Ask your question in the chat.