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30.06.202206:27 Forex Analysis & Reviews: USDCAD, Potential For Bearish continuation | 30th June 2022

Exchange Rates 30.06.2022 analysis

On the H4, with price's recent break of the ichimoku cloud and how it is moving within a descending channel , we have a bearish bias that price will continue to drop from the 1st resistance at 1.29124 in line with the horizontal pullback resistance and 38.2% Fibonacci retracement to the 1st support at 1.28224 in line with the 50% Fibonacci retracement and horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.30077 where the 78.6% Fibonacci retracement and horizontal swing high resistance is.

Trading Recommendation

Entry: 1.28224 Reason for Entry: 50% Fibonacci retracement and horizontal swing low supportTake Profit: 1.29124

Reason for Take Profit: Horizontal pullback resistance and 38.2% Fibonacci retracement

Stop Loss: 1.30077

Reason for Stop Loss:

78.6% Fibonacci retracement and horizontal swing high resistance

*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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GBPUSD Potential For Bearish Continuation | 8th August 2022
On the H4, with prices breaking the ascending channel we are now slightly bearish biased. Price is now testing the first support at 1.208 which coincides with 38.2% Fibonacci retracement. If price break supports and confirms downside trend, we would expect downside momentum to carry price to 2nd.
Author: Dean Leo
05:34 2022-08-08 UTC--4
1408
USDCAD Potential For Bullish Rise | 8th August 2022
On the H4, with the price breaking the descending trendline and below ichimoku cloud, we have a bullish bias that the price may rise from our 1st resistance at 1.29451, which is in line with 100% fibonacci projection to our 2nd resistance at 1.30233, which is in line with the 161.8% fibonacci.
Author: Dean Leo
05:30 2022-08-08 UTC--4
1243
BTCUSD Potential For Bullish Continuation | 8th August 2022
On the H4, with price moving within a bullish channel and RSI moving along an ascending trendline, we have a bullish bias that price will rise from our 1st support at 22560.82 where the pullback support, 61.8% fibonacci retracement and 61.8% fibonacci projection are to the 1st resistance at.
Author: Dean Leo
05:26 2022-08-08 UTC--4
1408
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