26.01.202208:18 Forex Analysis & Reviews: NZDUSD Bullish Bounce | 26th Jan 2022

On the H4, prices are at a swing low at 0.66830 in line with 161.8% Fibonacci projection. We see the potential for a bounce from our 1st support at 0.66830 in line with 161.8% projection towards our 1st resistance at 0.67349 in line with 100% Fibonacci retracement. RSI is at a level where bounces occurred previously. Alternatively, our stop loss will be placed at our 2nd support at 0.66286 in line with 200% Fibonacci Projection.

Trading Recommendation

Entry: 0.66830

Reason for Entry:

161.8% Fibonacci projection

Take Profit: 0.67349

Reason for Take Profit:

100% Fibonacci retracement

Stop Loss: 0.66286

Reason for Stop Loss:

200% 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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