Weekly Technical Analysis Report 28 April – Bearish outlook on BRTUSD
April 28, 2023
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
