22.06.202205:00 Forex Analysis & Reviews: USDCHF, Potential For Bullish Rise | 22nd June 2022

Exchange Rates 22.06.2022 analysis

Description:On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise from our 1st support at 0.96315 where the horizontal pullback support and 78.6% Fibonacci retracement is to our 1st resistance at 0.98879 in line with the horizontal pullback resistance and 61.8% Fibonacci retracement. Alternatively, price may break structure and head for 2nd support where the horizontal swing low support is.

Trading Recommendation

Entry: 0.96315 Reason for Entry: Horizontal pullback support and 78.6% Fibonacci retracement

Take Profit: 0.98879Reason for Take Profit:Horizontal pullback resistance and 61.8% Fibonacci retracement

Stop Loss: 0.95497Reason for Stop Loss:Horizontal swing low support

*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
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