24.06.202206:46 Forex Analysis & Reviews: USDCHF, Potential For Bullish rise | 24th June 2022

Exchange Rates 24.06.2022 analysis

Description :On the H4, with price expected to bounce off the RSI indicator, we have a bullish bias that price will rise from our 1st support at 0.95996 where the horizontal swing low support is to our 1st resistance at 0.97232 in line with the horizontal swing high resistance and 23.6% Fibonacci retracement. Alternatively, price may break structure and head for 2nd support where the 100% Fibonacci projection is at 0.95462.

Trading Recommendation

Entry: 0.95996Reason for Entry: Horizontal swing low support

Take Profit: 0.97232Reason for Take Profit: Horizontal swing high resistance and 23.6% Fibonacci retracement

Stop Loss: 0.95462Reason for Stop Loss:100% Fibonacci projection

*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.

  • Trade Wise, Win Device
    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.