USDCHF bullish continuation | 5th Oct 2021


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

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