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Forex Analysis & Reviews: EURUSD Potential For Bearish Continuation | 22nd August 2022
time 22.08.2022 05:31 AM
time Relevance up to, 23.08.2022 05:31 AM

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On the H4, prices have broken the ascending trend and are below the ichimoku indicator, we are bearish bias. Prices are descending toward the first support at 0.9955 where the 61.8% projection sits. Alternatively, prices could pull back to test the first resistance at 1.0282 where the previous swing high sits and subsequently the second resistance at 1.0353 where the 61.8% retracement and swing high sits

Trading Recommendation

Entry: 1.003

Reason for Entry:

Pull back buy entry

Take Profit: 0.9955

Reason for Take Profit:Swing low support and 61.8% projection

Stop Loss: 1.011

Reason for Stop Loss:

Previous swing low

Dean Leo,
Analytical expert of InstaForex
© 2007-2023
EURUSD
Euro vs US Dollar
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