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05.12.2022 03:16 PM
AUDUSD Potential for Bullish Continuation | 5th December 2022

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Looking at the H4 chart, my overall bias for ADUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Expecting price to continue heading towards the 1st resistance at 0.69161, where the previous swing high and 78.6% Fibonacci line are. In an alternative scenario, price could possibly head back down to retest the 1st support line at 0.67711 where the 61.8% Fibonacci line is.

Trading Recommendation

Entry: 0.68293

Reason for Entry: Immediate entry to take advantage of the bullish momentum

Take Profit: 0.69161

Reason for Take Profit:

1st resistance line and previous swing high

Stop Loss: 0.67427

Reason for Stop Loss:

Slightly below the 1st support line and previous low

Dean Leo,
Analytical expert of InstaForex
© 2007-2023
AUDUSD
Australian vs US Dollar
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USDCHF, H4 | Potential Reversal ?
the USD/CHF chart, it can be seen that the overall momentum is currently bearish. However, in the short term, price could potentially drop further to the 1st support level at 0.9136 before rebounding from there and rising towards the 1st resistance level at 0.9238. The 1st support level is.
Author: Dean Leo
01:57 2023-03-23 UTC--4
1780
EURUSD, H4 | Potential Bearish Reversal?
It appears that the overall momentum is bearish, indicating a potential drop in price in the longer term. However, in the short term, price could potentially rise towards the 1st resistance level at 1.093 before reversing and heading towards the 1st support level at 1.077. At 1.077, we have a.
Author: Dean Leo
01:56 2023-03-23 UTC--4
2050
USDCAD, H4 | Respected descending trendline ?
The charts indicate that the USD/CAD currency pair is currently experiencing a bearish momentum, with price situated below a significant descending trend line. As such, it is likely that the bearish trend will continue. In the event of a drop in price, there are two potential support levels that.
Author: Dean Leo
01:55 2023-03-23 UTC--4
1750
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