11.10.2021 07:27 AM
CHFJPY facing bearish pressure, drop incoming!

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CHFJPY is approaching the upper resistance of the ascending price channel in line with 1st resistance at 121.675 in line with Horizontal swing high and 100% Fibonacci extension . Price is likely to reverse off from 1st resistance at 121.675 in line with Horizontal swing high and 100% Fibonacci extension to take 1st support at 120.242 in line with 23.6% Fibonacci retracement and 78.6% Fibonacci extension level. Our bearish bias is further supported by how Stochastic is approaching resistance where price dropped in the past. Otherwise price may bullish towards 2nd resistance at 122.506 in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension.

Trading Recommendation

Entry: 121.675

Reason for Entry:

Horizontal swing high and 100% Fibonacci extension

Take Profit: 120.242

Reason for Take Profit:

23.6% Fibonacci retracement and 78.6% Fibonacci extension level

Stop Loss: 122.506

Reason for Stop Loss:

-27.2% Fibonacci retracement and 127.2% Fibonacci extension

USDJPY, Daily| Continue to 1st resistance?
The USD/JPY chart is exhibiting bullish momentum, potentially for further upward movement, supported by the price staying above a major ascending trend line. The first support level is at 137.65 and the second is at 134.31, both identified as overlap supports, reinforcing the bullish sentiment. The.
Autor: Dean Leo
04:56 2023-05-29 UTC--4
EURUSD, Daily | React off 1st resistance?
The EUR/USD chart is demonstrating bearish momentum with a potential for further downward movement. In the short term, a rise towards the first resistance level of 1.0806 is expected before a possible reversal towards the first support level at 1.0695, which serves as an overlap support. A second.
Autor: Dean Leo
04:50 2023-05-29 UTC--4
XAUUSD, Daily | Bounce off 1st support?
The Gold to US Dollar pair (XAU/USD) is currently on a bullish trend, with prices above a significant rising trendline indicating potential further upward movement. The first support level at 1935.46, which is the 50% Fibonacci retracement level, and the second support at 1859.67, aligning with the.
Autor: Dean Leo
04:49 2023-05-29 UTC--4
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