empty
 
 
15.03.2022 06:05 AM
AUDUSD Potential For Bullish Pressure | 15th March

This image is no longer relevant

On the H4, price is abiding by the ascending trendline and near 1st support level of 0.71687 in line with Fibonacci confluence (100% Fibonacci projection, 78.6% Fibonacci retracement and 161.8% Fibonacci extension). Price can potentially bounce to the 1st resistance level of 0.72834 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is supported by the stochastic indicator as it is near support level. Alternatively, price can potentially slump to the 2nd support level of 0.70950 in line with 100% Fibonacci projection.

Trading Recommendation

Entry: 0.71687

Reason for Entry: Fibonacci confluence (100% Fibonacci projection, 78.6% Fibonacci retracement and 161.8% Fibonacci extension) and graphical pullback support.

Take Profit: : 0.72834

Reason for Take Profit: 61.8% Fibonacci retracement and 100% Fibonacci projection

Stop Loss: 0.70950

Reason for Stop Loss:

100% Fibonacci projection and previous graphical swing high

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 $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

Recommended Stories

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