empty
 
 
28.04.2022 07:22 AM
USDCHF Potential For Bearish Reversal | 28th April 2022

This image is no longer relevant

On the H4 timeframe, price is moving towards the descending trendline. We expect that price will potentially reverse from 1st resistance level of 0.97034 in line with -27.2% fibonacci expansion and a major 61.8% fibonacci retracement towards the 1st support level of 0.95925 in line with 23.6% fibonacci retracement. Alternatively, price might break through 1st resistance and trigger a rise towards the 2nd resistance level of 0.97819 in line with 7 May 2020 high.

Trading Recommendation

Entry: 0.97034

Reason for Entry: -27.2% fibonacci expansion and a major 61.8% fibonacci retracement.

Take Profit: 0.95925

Reason for Take Profit: 23.6% fibonacci retracement.

Stop Loss: 0.97819

Reason for Stop Loss:

7 May 2020 high

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback