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17.01.202209:03 Forex Analysis & Reviews: NZDUSD Bullish Bounce | 14th Jan 2022

Exchange Rates 17.01.2022 analysis

On the H4 timeframe, prices is trading in an ascending channel and is near 1st support level of 0.67793 which is also 100% Fibonacci projection and 78.6% Fibonacci retracement. Price can potentially go to the 1st resistance level of 0.68896 which is the graphical swing high level. Our bullish bias is supported by the stochastic indicator as it is near support level. Alternatively if price were to break the 1st support level, it can potentially go to the 2nd support level of 0.76415 which is 127.2% Fibonacci projection and 78.6% Fibonacci retracement.

Trading Recommendation

Entry: 0.67793

Reason for Entry:

100% Fibonacci projection and 78.6% Fibonacci retracement

Take Profit: 0.68896

Reason for Take Profit:

Graphical swing high

Stop Loss: 0.67415

Reason for Stop Loss:

127.2% Fibonacci projection and 78.6% Fibonacci retracement

*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.

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