empty
19.01.2022 08:22 AM
USDCHF Potential Bearish Drop | 19th Jan 2022

This image is no longer relevant

On the H4 timeframe, with price moving below the Ichimoku cloud, we have a bearish bias that price will drop from 1st resistance of 0.91795 in line with the 50% Fibonacci retracement level to 1st support at 0.91316 in line with the 50% Fibonacci retracement level. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 0.92008 in line with the 61.8% Fibonacci retracement.

Trading Recommendation

Entry: 0.91795

Reason for Entry: 50% Fibonacci retracement level

Take Profit: : 0.91316

Reason for Take Profit: 50% Fibonacci retracement level

Stop Loss: 0.92008

Reason for Stop Loss:

61.8% Fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

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

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.