empty
 
 
14.04.2021 10:49 AM
AUDCAD facing bullish pressure, potential for more upside!

This image is no longer relevant

Prices are facing bullish pressure from ascending trendline support, horizontal swing low support which coincides with 50% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up further towards 1st resistance, which is a horizontal swing high resistance in line with 78.6% Fibonacci retracement and 161.8% FIbonacci extension. If prices push down further, it might take support from 2nd support which is a horizontal swing low support in line with 100% Fibonacci extension and 61.8% Fibonacci retracement. EMA is also above prices, showing a bearish pressure for prices.

Trading Recommendation

Entry: 0.95740

Reason for Entry:

Horizontal swing low support, 50% Fibonacci extension, 61.8% Fibonacci retracement

Take Profit: 0.96208

Reason for Take Profit:

Horizontal swing high resistance, 78.6% Fibonacci retracement, 161.8% Fibonacci extension

Stop Loss: 0.95574

Reason for Stop Loss:

Horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback