Daily Video Analysis: AUDUSD facing bearish pressure, potential for further drop!
February 11, 2021 11:21 am
Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistance. We could potentially see a further drop from our sell entry level, in line with our 23.6% Fibonacci retracement, towards our take profit level in line with our -27.2% Fibonacci retracement.
The material has been provided by InstaForex Company – www.instaforex.com
Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistance. We could potentially see a further drop from our sell entry level, in line with our 23.6% Fibonacci retracement, towards our take profit level in line with our -27.2% Fibonacci retracement.
The material has been provided by InstaForex Company – www.instaforex.com
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