USDCHF Potential for Bullish Continuation | 7th October 2022
We have a bullish bias on USDCHF on the H4 chart. To add to this bias, the price is above the Ichimoku cloud, indicating a bullish market. Looking for a retracement buy entry at 0.98496, which is where the two 50% Fibonacci lines intersect. The stop loss will be set at 0.97804, which is the previous low and the 100% Fibonacci line. Take profit will be at 0.99509, where the last swing line high is situated as resistance.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
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