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Weekly Technical Analysis Report 28 April – Bearish outlook on BRTUSD

Weekly Technical Analysis Report 28 April – Bearish outlook on BRTUSD

1. This week’s outlook on BRTUSD: Bearish outlook seen

Price is hovering above a key support zone at 77.80 on the H4 timeframe. A break below this zone, which is in line with the 78.6% Fibonacci extension level, could provide the bearish acceleration for a further throwback to the next support zone at 72.80, which coincides with the 78.6% Fibonacci retracement. Price is holding below the 20 EMA and Ichimoku cloud, while ADX above 25 is indicating a strong trend, supporting our bearish bias.


Bearish outlook on BRTUSD – 28 April 2023 by Salzworth on TradingView.com

Salzworth Asset Management