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17.01.202209:03 Forex Analysis & Reviews: NZDUSD Bullish Bounce | 14th Jan 2022

Exchange Rates 17.01.2022 analysis

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 is supported by the stochastic indicator as it is near support level. Alternatively if price were to break the 1st support level, it can potentially go to the 2nd support level of 0.76415 which is 127.2% Fibonacci projection and 78.6% Fibonacci retracement.

Trading Recommendation

Entry: 0.67793

Reason for Entry:

100% Fibonacci projection and 78.6% Fibonacci retracement

Take Profit: 0.68896

Reason for Take Profit:

Graphical swing high

Stop Loss: 0.67415

Reason for Stop Loss:

127.2% Fibonacci projection and 78.6% 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
© 2007-2022
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EURUSD Potential For Bearish Continuation | 29th June 2022
On H4, with price recently breaking the ascending trendline, we have a bearish bias that price will continue to drop from the 1st resistance at 1.06047 at the pullback resistance in line with the 61.8% fibonacci projection and 61.8% fibonacci retracement to the 1st support at 1.03541 in line with.
Author: Dean Leo
00:29 2022-06-29 UTC--4
2158
GBPUSD Potential For Bullish Continuation | 29th June 2022
On the H4, with prices expected to bounce off the stochastic support, we have a bullish bias that price will drop and rise from our 1st support at 1.21657 where the horizontal overlap support and 50% fibonacci retracement are to our 1st resistance at 1.24327 in line with the 61.8% fibonacci.
Author: Dean Leo
00:26 2022-06-29 UTC--4
2008
USDCAD, Potential For Bullish Bounce | 29th June 2022
On the H4, with price bouncing off the stochastic support, we have a bullish bias that price will rise from our 1st support at 1.28647 where the horizontal pullback support is to our 1st resistance at 1.30128 in line with the horizontal swing high resistance, 100% fibonacci projection and 78.6%.
Author: Dean Leo
00:24 2022-06-29 UTC--4
1708
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