Latest News

USDCAD, Bullish Pressure | 27th Dec 2021

0

On the H4 time frame, with price approaching the support of the stochastics indicator, we have a bullish bias that price will rise from 1st support at 1.27676 in line with the graphical swing low support and 127.2% Fibonacci extension to 1st resistance at 1.29425 in line with the graphical swing high resistance. Alternatively, we may see price break 1st support and head for 2nd support at 1.26136 in line with the horizontal swing low support and 200% Fibonacci projection.

Trading Recommendation

Entry:1.27676

Reason for Entry:

Graphical swing low support and 127.2% Fibonacci extension

Take Profit: 1.29425

Reason for Take Profit:

Graphical swing high resistance

Stop Loss:1.26136

Reason for Stop Loss:

Horizontal swing low support and 200% Fibonacci projection.

The material has been provided by InstaForex Company – www.instaforex.com

Analysis and trading tips for GBP/USD on December 27

Previous article

NZDUSD Experiencing a Squeeze, Potential for Downside! | 27th Dec 2021

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News