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16.04.202111:05 Forex Analysis & Reviews: EURCHF facing bearish pressure, potential for more downside!

Exchange Rates 16.04.2021 analysis

Prices are facing bearish pressure from 1st resistance in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push down further towards 1st support in line with 78.6% FIbonacci retracement and 61.8% FIbonacci retracement. If prices push past 1st resistance, prices might face resistance from horizontal swing high resistance which coincides with 78.6% FIbonacci retracement. EMA is also above prices, showing a bearish pressure for prices.

Trading Recommendation

Entry: 1.10422

Reason for Entry:

Horizontal swing high resistance, 127.2% Fibonacci extension, -27.2% Fibonacci retracement

Take Profit: 1.10135

Reason for Take Profit:

Horizontal swing low support, 78.6% FIbonacci retracement, 61.8% Fibonacci retracement

Stop Loss: 1.10550

Reason for Stop Loss:

Horizontal swing high resistance, 78.6% FIbonacci retracement

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Dean Leo,
Chuyên gia phân tích
Tập đoàn InstaForex © 2007-2021
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