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25.01.202207:15 Forex Analysis & Reviews: AUDUSD Bearish Breakout | 25th Jan 2022

Exchange Rates 25.01.2022 analysis

On the H4, price broke out of the ascending channel, signifying an overall bearish momentum. We can expect price to drop from 1st Resistance in line with 78.6% Fibonacci projection and 38.2% Fibonacci retracement towards 1st Support in line with graphical support level and 127.2% Fibonacci projection. Our bearish bias is further supported by the Ichimoku cloud indicator where the price is holding below it.

Trading Recommendation

Entry: 0.71724

Reason for Entry: 38.2% Fibonacci retracement and 78.6% Fibonacci projection

Take Profit: : 0.70883

Reason for Take Profit:Graphical support level and 127.2% Fibonacci projection.

Stop Loss: 0.72107

Reason for Stop Loss:

100 Fibonacci projection

*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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On the H4, with prices moving below the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 128.099 where the 38.2% Fibonacci retracement and horizontal overlap resistance is to our 1st support at 126.988 in line with the 78.6% Fibonacci projection and.
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On the H4, with price moving above the Ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 1.25009 where the horizontal overlap support is to our 1st resistance at 1.26243 in line with the 78.6% Fibonacci projection and horizontal swing high resistance..
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