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02.08.202108:41 Forex Analysis & Reviews: AUDUSD broke below trendline support! Drop incoming!

Exchange Rates 02.08.2021 analysis

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

Dean Leo,
Odborný analytik spoločnosti InstaForex
© 2007-2021
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Daily Video Analysis: USDCAD holding below descending trendline resistance! Potential for drop!
Today we take a look at USDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.
Author: Dean Leo
03:07 2021-09-17 UTC--5
2203
USDCAD holding below descending trendline resistance! Potential for drop!
USDCAD trading within a triangle pattern and testing triangle trendline resistance. A short term drop below 1st resistance at 1.26979 towards 1st support at 1.26497 could be possible. Stochastic also testing resistance where price dropped in the past. Trading Recommendation Entry: 1.26979 Reason.
Author: Dean Leo
00:53 2021-09-17 UTC--5
6493
USDJPY reversed from resistance, potential drop!
Price is approaching 1st resistance at 109.978 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension where it is could reverse down to 1st support at 109.112 in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. Our bearish bias is further supported by how MACD.
Author: Dean Leo
00:51 2021-09-17 UTC--5
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