07.12.202107:31 Forex Analysis & Reviews: USDCAD Bearish Pressure | 7th Dec 2021

On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from 1st support at 1.27252 in line with the graphical overlap support and 61.8% Fibonacci retracement to 1st resistance at 1.28499 in line with the graphical swing high resistance and 78.6% Fibonacci projection. Alternatively, we may see price break 1st support structure and head for 2nd support at 1.26338 in line with the horizontal overlap support.

Trading Recommendation

Entry: 1.27252

Reason for Entry:

Graphical overlap support and 61.8% Fibonacci retracement

Take Profit: 1.28499

Reason for Take Profit:

Graphical swing high resistance and 78.6% Fibonacci projection

Stop Loss: 1.26338

Reason for Stop Loss:

Horizontal overlap support

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Dean Leo,
انسٹافاریکس کا تجزیاتی ماہر
© 2007-2022

اس مصنف کی طرف سے مزید مضامین

لسٹ کی طرف واپسی

مصنف سے دریافت کریں

E-mail subscription

Benefit from analysts’ recommendations right now

Top up trading account

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Daily Video Analysis: ETHUSD, W1 Potential Bullish Recovery

Today we take a look at ETHUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.

AUDUSD Potential For Bullish Continuation | 27th May 2022

On the H1, with price moving above the Ichimoku cloud and price moving within the ascending trend channel, we have a bullish bias that price will rise to our 1st resistance at 0.72673 where the swing high is from our 1st support at 0.71004 in line with the 61.8% Fibonacci retracement..

USDJPY Potential For Bearish Continuation | 27th May 2022

On the H4, with prices moving below the ichimoku indicator and passing the basis line of the bollinger band in a downtrend, we have a bearish bias that price will drop from our 1st resistance at 127.164 where the horizontal overlap resistance and 23.6% fibonacci retracement are to our 1st support.