21.06.202207:25 Forex Analysis & Reviews: GBPNZD Potential For Bullish Continuation | 21st June 2022

Exchange Rates 21.06.2022 analysis

Description:On the H4, with price moving in an ascending trend channel, we have a bullish bias that price will rise from the 1st support at 1.92537 in line with the 61.8% fibonacci projection and pullback support to the 1st resistance at 1.96656 at the swing high in line with the 78.6% fibonacci projection and 50% fibonacci retracement. Alternatively, price may break the support at our entry and drop to the 2nd support at 1.91078 in line with the overlap support

Trading Recommendation Entry: 1.92537Reason for Entry:61.8% fibonacci projection and pullback support

Take Profit: 1.96656 Reason for Take Profit:swing high, 78.6% fibonacci projection and 50% fibonacci retracement

Stop Loss: 1.91078Reason for Stop Loss:overlap support

*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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