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18.01.202209:28 Forex Analysis & Reviews: NZDUSD Bullish Bounce | 18th Jan 2022

Exchange Rates 18.01.2022 analysis

On the H4 timeframe, prices are consolidating in an ascending channel and on bullish momentum. We see the potential for a bounce from our 1st support at 0.6799 in line with 61.8% Fibonacci retracement and 100% Fibonacci extension towards our 1st resistance at 0.68306 in line with 50% Fibonacci retracement. Prices are trading above our MA 200 and MA 50, and also Ichimoku clouds, further supporting our bullish bias. Alternatively, if prices break our 1st support, we see the potential for prices to dip towards our 2nd support at 0.67500 in line with 127.2% Fibonacci extension.

Trading Recommendation

Entry: 0.6799

Reason for Entry:

61.8% Fibonacci retracement and 100% Fibonacci extension

Take Profit: 0.68306

Reason for Take Profit:

50% Fibonacci retracement

Stop Loss: 0.67500

Reason for Stop Loss:

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
© 2007-2022
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AUDUSD Potential For Bearish Continuation | 7th July 2022
On the H4, with price moving below the ichimoku cloud, in a descending trendline and in a descending trend channel, we have a bearish bias that price will drop from the 1st resistance at 0.67684 at the multiple swing lows in line with the 78.6% fibonacci projection to the 1st support at 0.66648 in.
Author: Dean Leo
03:53 2022-07-07 UTC--4
2638
GBPUSD Potential For Bearish Continuation | 7th July 2022
On the H4, with prices moving below the ichimoku indicator and within the descending channel, we have a bearish bias that price will drop from our 1st resistance at 1.19313 where the horizontal pullback resistance and 61.8% fibonacci projection are to our 1st support at 1.18235 where the 161.8%.
Author: Dean Leo
03:50 2022-07-07 UTC--4
2563
USDCAD, Potential For Bearish Drop | 7th July 2022
On the H4, with price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our 1st support at 1.29525 where the horizontal pullback support and 100% Fibonacci projection and 50% Fibonacci retracement are from our 1st resistance at 1.30780 in line with.
Author: Dean Leo
03:46 2022-07-07 UTC--4
2713
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