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19.04.202109:56 Forex Analysis & Reviews: Daily Video Analysis: AUDUSD facing bearish pressure, potential for further drop!

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Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as MACD is holding below the 0 line, in line with our analysis. We could potentially see a reversal at our sell entry level, in line with 61.8% Fibonacci retracement, and a further drop towards our take profit levels, which are in line with our horizontal swing low support and -61.8% Fibonacci retracement.

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

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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