27.01.202209:13 Forex Analysis & Reviews: USDCHF Bearish Reversal | 27th Jan 2022

On the H4 timeframe, price is abiding to a descending channel, signifying a bearish momentum. Price is reacting at 1st Resistance, we can expect price to drop from 1st Resistance in line with 161.8% Fibonacci extension and 78.6% Fibonacci projection towards 1st Support in line with 78.6% Fibonacci projection. Our bearish bias is further supported by the stochastic indicator where the %K line is approaching the resistance level.

Trading Recommendation

Entry: 0.92449

Reason for Entry: 161.8% Fibonacci extension and 78.6% Fibonacci projection

Take Profit: : 0.91076

Reason for Take Profit: graphical support level and 78.6% Fibonacci projection

Stop Loss: 0.92758

Reason for Stop Loss:

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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