empty
 
 
15.12.2020: Forex Analysis & Reviews: Daily Video Analysis: AUDCHF is facing bearish pressure, potential for a further drop!

Today we take a look at AUDCHF. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. AUDCHF has reversed from the resistance level at 0.66832, which is in line with our 38.2% Fibonacci retracement level and horizontal overlap resistance. From here, it could possibly drop further to our first take profit level at 0.66139, in line with our 76.4% Fibonacci retracement level, and second take profit level at 0.65828, in line with our horizontal swing low support. Price is also below the EMA (21) which shows bearish pressure in line with our analysis.

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
  • 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 $5000 more!
    In November we raffle $5000 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
Can't speak right now?
Ask your question in the chat.
Widget callback