empty
 
 
07.09.2022 06:12 AM
AUDUSD Potential for Bearish Continuation | 7th September 2022

This image is no longer relevant

On the H4, with the price moving below the ichimoku cloud and moving within the descending channel, we have a bearish bias that the price may drop from the 1st support at 0.66844, which is in line with the swing low to the 2nd support at 0.66325, where the 78.6% fibonacci projection is. Alternatively, the price may rise to the 1st resistance 0.67770, where the 23.6% fibonacci retracement is.

Trading Recommendation

Entry: 0.66844

Reason for Entry:

Swing low

Take Profit: 0.66325

Reason for Take Profit:

78.6% fibonacci projection

Stop Loss: 0.67770

Reason for Stop Loss:

23.6% fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback