06.12.202107:40 Forex Analysis & Reviews: USDCHF Bearish Pressure | 6th Dec 2021

Exchange Rates 06.12.2021 analysis

Price is moving below our 1st resistance level at 0.92135 which is in line with 50.0% Fibonacci extension level and horizontal swing high resistance. We have a bearish bias that price can potentially drop to 1st support at 0.91553, which is in line with horizontal overlap support and possibly even to 2nd support at 0.91089 in line with the 161.8% Fibonacci projection and graphical swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 0.92453, which coincides with 38.2% Fibonacci retracement level, horizontal overlap resistance & 78.6% Fibonacci retracement level . This is further supported by how price is now holding below the Ichimoku cloud resistance.

Trading Recommendation

Entry: 0.92135

Reason for Entry:

50.0% Fibonacci extension level and horizontal swing high resistance

Take Profit: 0.91553

Reason for Take Profit:

Horizontal overlap support

Stop Loss: 0.92453

Reason for Stop Loss:

38.2% Fibonacci retracement level, 78.6% Fibonacci retracement level and horizontal overlap resistance

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Daily Video Analysis: BCOUSD, H4 Bearish Reversal Opportunity
Today we take a look at BCOUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups.
Author: Dean Leo
09:30 2022-05-26 UTC--4
AUDUSD Potential For Bullish Continuation | 26th May 2022
On the H4, price has recently broken the descending trendline and is moving above the ichimoku cloud which supports our bullish bias that price will rise from our 1st horizontal pullback support at 0.70341 in line with the 23.6% fibonacci retracement and 78.6% fibonacci projection, to the 1st.
Author: Dean Leo
04:25 2022-05-26 UTC--4
USDJPY Potential For Bearish Continuation | 26th May 2022
On the H4, with prices moving below the ichimoku indicator and the stochastic indicator moving in a downtrend channel, we have a bearish bias that price will drop from our 1st resistance at 127.699 where the horizontal overlap resistance and 23.6% fibonacci retracement are to our 1st support at.
Author: Dean Leo
04:22 2022-05-26 UTC--4
Show more

  • Trade Wise, Win Devise
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
Can't speak right now?
Ask your question in the chat.