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.