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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

AUDUSD holding below descending trendline resistance! Potential for drop!
01:33 2021-09-20 UTC--4
Exchange Rates analysis

AUDUSD holding below descending trendline resistance. With technical indicators showing room for further bearish downside, a short term drop below 1st resistance at 0.72778 towards 1st support at 0.72288 could be possible.

Trading Recommendation

Entry: 0.72778

Reason for Entry:

38.2% Fibonacci retracement, Descending trendline resistance

Take Profit: 0.72288

Reason for Take Profit:

-27.20% Fibonacci retracement, 127.2% Fibonacci expansion

Stop Loss: 0.73058

Reason for Stop Loss:

76.4% Fibonacci retracement

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.