25.01.202207:15 Forex Analysis & Reviews: AUDUSD Bearish Breakout | 25th Jan 2022

On the H4, price broke out of the ascending channel, signifying an overall bearish momentum. We can expect price to drop from 1st Resistance in line with 78.6% Fibonacci projection and 38.2% Fibonacci retracement towards 1st Support in line with graphical support level and 127.2% Fibonacci projection. Our bearish bias is further supported by the Ichimoku cloud indicator where the price is holding below it.

Trading Recommendation

Entry: 0.71724

Reason for Entry: 38.2% Fibonacci retracement and 78.6% Fibonacci projection

Take Profit: : 0.70883

Reason for Take Profit:Graphical support level and 127.2% Fibonacci projection.

Stop Loss: 0.72107

Reason for Stop Loss:

100 Fibonacci projection

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Dean Leo,
Experto analítico de InstaForex
© 2007-2022

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