AUDUSD Potential for Bearish Momentum | 26th September 2022
On the H4, with the price breaking the lower bound of descending channel, below ichimoku cloud, we have a bearish bias that the price may
drop from the sell entry at 0.65223, which is in line with the 100% fibonacci projection and 127.2% fibonacci extension to the take profit at 0.63965, which is in line with the 161.8% fibonacci extension and 127.2% fibonacci projection. Alternatively, the price may break the sell entry and rise to the stop loss at 0.66716, which is in line with 23.6% and 38.2% fibonacci retracement.
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drop from the sell entry at 0.65223, which is in line with the 100% fibonacci projection and 127.2% fibonacci extension to the take profit at 0.63965, which is in line with the 161.8% fibonacci extension and 127.2% fibonacci projection. Alternatively, the price may break the sell entry and rise to the stop loss at 0.66716, which is in line with 23.6% and 38.2% fibonacci retracement.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.