01.07.2022 08:59 AM
On the H4, with price's recent break of the ichimoku cloud and how it is moving within a descending channel , we have a bearish bias that price will continue to drop from the 1st resistance at 1.29124 in line with the horizontal pullback resistance and 38.2% Fibonacci retracement to the 1st support at 1.28224 in line with the 50% Fibonacci retracement and horizontal swing low support. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.30077 where the 78.6% Fibonacci retracement and horizontal swing high resistance is.
Trading Recommendation
Entry: 1.28224 Reason for Entry: 50% Fibonacci retracement and horizontal swing low supportTake Profit: 1.29124
Reason for Take Profit: Horizontal pullback resistance and 38.2% Fibonacci retracementStop Loss: 1.30077
Reason for Stop Loss: 78.6% Fibonacci retracement and horizontal swing high resistance
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
