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04.08.202109:06 Forex Analysis & Reviews: EURCAD reacting below 1st resistance, potential for downside!

Exchange Rates 04.08.2021 analysis

*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
© 2007-2021
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AUDUSD holding below descending trendline support! Further drop incoming!
AUDUSD holding below descending trend line resistance. Further drop below 1st resistance at 0.73199 towards 1st support at 0.71063 could be possible. 1st resistance finds confluence with graphical swing high resistance and holding below long term moving average. It is also in line with 38.2%.
Author: Dean Leo
03:49 2021-09-28 UTC--4
2473
USDCHF holding below descending trendline resistance! Potential drop!
USDCHF is holding below descending trendline resistance and 1st resistance at 0.92736 in line with 50% Fibonacci retracement and 23.6% Fibonacci extension. A further push down towards 1st support at 0.92161 in line Horizontal swing low and 61.8% Fibonacci extension may be expected. Our bearish is.
Author: Dean Leo
23:56 2021-09-27 UTC--4
4078
AUDCAD bullish bounce| 28th Sep 2021
Price is holding above the descending trendline resistance turn support, showing a strong bullish momentum. Price is approaching the trendline support to retest and we can expect price to bounce up from 1st Support in line 127.2% Fibonacci Projection and previous swing low, towards the 1st.
Author: Dean Leo
23:55 2021-09-27 UTC--4
4783
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