Forex Analysis & Reviews: USDCHF, Potential For Bullish Bounce | 13th July 2022

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 0.97233 where the horizontal pullback support is to our 1st resistance at 1.00485 in line with the 100% Fibonacci projection is. Alternatively, price may not break 1st support and head for 2nd support at 0.95268 where the horizontal pullback support.

Trading Recommendation
Entry: 0.97233 Reason for Entry: Horizontal pullback support Take Profit: 1.00485
Reason for Take Profit: 100% Fibonacci projection
Stop Loss: 0.95268
Reason for Stop Loss:Horizontal pullback support

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex

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