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15.11.202107:28 Forex Analysis & Reviews: USDCHF bullish continuation | 15th Nov 2021

Exchange Rates 15.11.2021 analysis

On the H4 timeframe, we can see that price have broken out of the descending trendline resistance, signifying a bullish momentum. We can expect the price to bounce from 1st Support in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection towards 1st Resistance in line with 78.6% Fibonacci retracement and 161.8% Fibonacci projection. Our bullish bias is further supported by the RSI indicator where it is abiding to the ascending trendline.

Trading Recommendation

Entry: 0.91858

Reason for Entry:

387.2% Fibonacci retracement and 78.6% FIbonacci projection

Take Profit: 0.92487

Reason for Take Profit:

78.6% Fibonacci retracement and 161.8% Fibonacci Projection

Stop Loss: 0.91711

Reason for Stop Loss:

50% Fibonacci retracement and 100% Fibonacci projection

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Dean Leo,
Especialista em análise na InstaForex
© 2007-2022
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On the H4, with prices moving below the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 128.992 where the 61.8% Fibonacci retracement and horizontal overlap resistance is to our 1st support at 128.188 in line with the horizontal swing low support..
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On the H4, with price reversing off the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 1.23923 where the horizontal overlap support is to our 1st support at 1.22667 in line with the horizontal pullback support, 100% Fibonacci projection and 61.8%.
Author: Dean Leo
04:09 2022-05-19 UTC--4
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