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18.01.202209:28 Ανάλυση και κριτικές Forex: AUDUSD, Bullish Pressure | 18th Jan 2022

Exchange Rates 18.01.2022 analysis

On the H4, with price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 0.72714 which is in line with horizontal overlap resistance and 61.8% Fibonacci retracement from 1st support at 0.71939, which is in line with horizontal overlap support and 61.8% Fibonacci retracement level. Alternatively, price may break 1st support structure and head for 2nd support at 0.71459, which coincides with horizontal swing low resistance and 127.2% Fibonacci extension.

Trading Recommendation

Entry:0.71939

Reason for Entry:

Horizontal overlap support and 61.8% Fibonacci retracement

Take Profit: 0.72714

Reason for Take Profit:

Horizontal overlap resistance and 61.8% Fibonacci retracement

Stop Loss: 0.71459

Reason for Stop Loss:

Horizontal swing low resistance and 127.2% Fibonacci extension

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Αναλυτικός εμπειρογνώμονας της InstaForex
© 2007-2022
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On the H4, with prices moving below the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 128.085 where the 38.2% Fibonacci retracement and horizontal overlap resistance is to our 1st support at 126.787 in line with the 78.6% Fibonacci projection..
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On the H4, with price moving above the Ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 1.23920 where the horizontal overlap support is to our 1st resistance at 1.25474 in line with the 61.8% Fibonacci projection. Alternatively, price may break 1st support.
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