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

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

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Dean Leo,
Chuyên gia phân tích của InstaForex
© 2007-2022

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