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08.12.2022 11:54 AM
AUDUSD Potential for Bearish Drop | 8th December 2022

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Looking at the H4 chart, my overall bias for AUDUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to head towards the 1st support at 0.65849, where the 38.2% Fibonacci line and previous swing low is. In an alternative scenario, price could possibly head back up to retest the 1st resistance line at 0.67711, where the 61.8% Fibonacci line is.

Trading Recommendation

Entry: 0.67711

Reason for Entry: Retest of the 1st resistance line

Take Profit: 0.65849

Reason for Take Profit:

1st support line and previous swing low

Stop Loss: 0.68508

Reason for Stop Loss:

Where the most recent swing high is

Dean Leo,
Analytical expert of InstaForex
© 2007-2023
AUDUSD
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The BTC/USD chart is currently bearish, indicating potential further price drops. The first resistance level at 28342 could prompt a bearish reaction towards the first support level at 26557. This support level is an overlap support with a 23.60% Fibonacci retracement, which could be a strong.
Author: Dean Leo
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The XAU/USD chart currently has a bearish momentum, with potential for a bearish reaction off the first resistance level at 2007 and a drop towards the first support level at 1957. This support level has held prices up before and if broken, the price could drop towards the second support level at.
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Author: Dean Leo
01:07 2023-03-24 UTC--4
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