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FxWirePro- BNBUSD Daily Outlook

Ichimoku analysis (4- hour chart)

 

Tenken-Sen- $563.90

 

Kijun-Sen- $547

 

Horizontal trend line- $605

 

BNBUSD performed well in the past two days.

 

Any daily close above $605 confirms further bullishness.

 

BNBUSD pared some of its gains made in the past two days.  The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $575 and is currently trading around $555.50.

 

The bullish invalidation can happen if the pair closes below $400. On the lower side, the near-term support is $535. Any break below targets $515/$500/$460. 

 

The immediate resistance stands at around $605. Any breach above confirms bullish continuation. A jump to $635/$700 is possible. A surge past $700 will take it to $800/$1000.

 

It is good to buy on dips around $500 with SL around $460 for TP of $605/$700.

 

 

 

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