USDCHF consolidating above ascending trendline support. Price could potentially push up further to 1st resistance at 0.93330 towards, in-line with 100% Fibonacci retracement, 61.8% Fibonacci extension and swing high resistance. Alternatively, price could drop and find support at 0.91645, in-line with 100% Fibonacci retracement and 200% Fibonacci extension.
Trading Recommendation
Entry: 0.92290
Reason for Entry:
61.8% Fibonacci retracement ,Graphical overlap support
Take Profit: 0.93330
Reason for Take Profit:
100% Fibonacci retracement, 61.8% Fibonacci extension and swing high resistance
Stop Loss: 0.91645
Reason for Stop Loss:
100% Fibonacci retracement and 200% Fibonacci extension
The material has been provided by InstaForex Company - www.instaforex.comfrom RobotFX
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