Solid News

ADAUSD, Murray Analysis

12/8/2022 2:27 PM

The ADA/USD pair continues to trade within the mid-term descending channel.

This week, the price reached its upper limit, after which it resumed its decline, however, for its serious development, quotes will have to overcome the level of 0.2929 (Murray level [4/8], the area of November lows). In this case, the price will be able to reach 0.2685 (Murray level [-1/8]), 0.2441 (Murray level [-2/8]). The key for the "bulls" remains the level of 0.3418 (Murray level [2/8]), in case of its breakout, the price will leave the descending channel and will be able to rise to the area of 0.3906 (Murray level [4/8], Fibo retracement 38.2%), 0.4394 (Murray level [6/8], Fibo retracement 50.0%).

Technical indicators signal the continuation of the downward trend: the Bollinger Bands and the Stochastic are reversing downwards, the MACD histogram is increasing in the negative zone.

Resistance levels: 0.3418, 0.3906, 0.4394. | Support levels: 0.2929, 0.2685, 0.2441.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Call Us
+35 924 928 392

Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2023