Price reversed nicely from the 96.84 level we forecasted and dropped all the way down to the support target.
How did we manage to forecast this setup? Join Desmond as he breaks down the move.
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Based on the H4 chart analysis, we can see that price is falling to our buy entry at 0.6630 which is an overlap support and before the 61.8% fibo retracement. Our take profit will be at 0.6709 which is an overlap resistance level. Stop loss will be at 0.6554 which is just slightly below 78.6% Fibo retracement.
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Based on the H4 chart analysis, we can see that price is rising to our buy entry at 1.3326 which is an overlap resistance. Our take profit will be at 1.3227 which is an overlap support level. Stop loss will be at 1.3420 which is slightly at the 127.20% fibo extension.
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Based on the H4 chart analysis, we can see that price is approaching our buy entry at 1.2674 which is an overlap support level that aligns with the 50% Fibo retracement. Stop loss will be at 1.2596 which is the previous swing high. Take profit will be at 1.2738.
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Based on the H4 chart analysis, we can see that price is slowly falling to our buy entry at 1.0778 which is an overlap support. Our take profit will be at 1.0846 which is an overlap resistance level. Stop loss will be at 1.0706 which is just slightly below 78.6% Fibo retracement.
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Based on the H4 chart analysis, we can see that price is falling to our buy entry at 69.44 which is an overlap support. Our take profit will be at 71.30 which is an resistance level. Stop loss will be at 67.56 which is just slightly below 78.6% Fibo retracement.
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Based on the H4 chart analysis, we can see that price is approaching our buy entry at 1.2674 which is an overlap support level that aligns with 50% Fibo retracement. Stop loss will be at 1.2596 which is an overlap support level. Take profit will be at 1.2738.
Furthermore, price is above a major ascending trend line suggesting further bullish momentum is on the...
EURUSD is approaching a key overlap support. Price could hit the buy entry at 1.08471 and potentially reverse to bounce higher. Take profit is at 1.09116 which is an overlap resistance. Stop loss is at 1.07928 which is an overlap support.
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Gold (XAUUSD) is falling towards a key overlap support that aligns with the 50.0% Fibonacci retracement level. Price could hit the buy entry at 1912.52 and potentially reverse to bounce higher. Take profit is at 1931.49 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level. Stop loss is at 1896.05 which is a recent...
We're seeing price test a key 78.6% Fibonacci projection + an overlap resistance. We could see a reversal from here that could take prices all the way down to slightly above the 23.6% Fibonacci retracement at 0.8177.
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Price is approaching a key overlap support where there is a 127% Fibonacci extension and a 78.6% Fibonacci retracement. We could potentially see a bounce from here to take prices back up towards the key overlap resistance at 1.7625.
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Price is approaching a big resistance at 96.85 which is an overlap resistance and a 127% Fibonacci extension. A reversal from here could see prices drop to the 96.53 level where the start of the breakout occurred.
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USDJPY is falling towards a key overlap support. Price could hit the buy entry at 144.176 and potentially reverse to bounce higher. Take profit is at 145.480 which is an overlap resistance that sits above the 61.8% Fibonacci projection level. Stop loss is at 143.107 which is a pullback support that aligns below the 23.6% Fibonacci retracement level.
Please be...
AUDUSD is rising towards a key overlap resistance that aligns with the 38.2% Fibonacci retracement level. Price could hit the sell entry at 0.67097 and potentially reverse from this level to drop lower. Take profit is at 0.66362 which is an overlap support. Stop loss is at 0.67549 which is an overlap resistance that aligns above the 50.0% Fibonacci retracement...
Based on the H4 chart analysis, we can see that price is approaching our buy entry at 1931.49 which is an overlap resistance that aligns with a 50% Fibo retracement. Our take profit will be at 1912.5 which is an overlap support. Stop loss will be at 1957.70 which is slightly above swing high resistance.
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Based on the H4 chart analysis, we can see that price is approaching our sell entry at 0.6187 which is a multi swing high resistance that . Our take profit will be at 0.6146 Stop loss will be at 0.6222 which is a swing high resistance level.
additionally, Price is below a major descending trend line, suggesting that bearish momentum.
Please be advised that...
We recently saw price bounce off our 1.0840 major support level really nicely to reach the 1.0910 level which was our forecasted TP was at.
Dive into all the reasons why we forecasted the bounce to draw insightful lessons!
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Price is testing a major overlap resistance and at the same time, seeing a bearish descending resistance line continue to weigh down on prices.
A reversal from here could see prices drop all the way to the 1.2606 level - but take note that there's a risk level at 1.2659 which acts as our intermediate support.
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