USDCHF bullish continuation | 5th Oct 2021

analytics615bd0cc6b1e0.jpg

Price is holding above the ascending trendline support, signifying a bullish momentum. We can expect the price to push up from the pivot level in line with 23.6% Fibonacci retracement towards the take profit level in line with 61.8% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish bias is further supported by the stochastic indicator where the %K line bounced at the support level.

Trading Recommendation

Entry: 0.92572

Reason for Entry:

23.6% Fibonacci Retracement

Take Profit: 0.93326

Reason for Take Profit:

61.8% Fibonacci Retracement and 61.8% Fibonacci projection

Stop Loss: 0.92329

Reason for Stop Loss:

127.2% Fibonacci projection

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX
- Need a custom expert advisor?
- Try the Complex Trader EA.

Share this:

Forward
Backward