USDCHF holding below descending trendline support!

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USDCHF holding below descending trendline support!

USDCHF holding below descending trendline support!

USDCHF holding below descending trendline support!

Price holding below descending trendline resistance. After pulling back to the 61.8% fib retracement, price is likely to drop from there towards our 1st support where the 61.8% fib extension is.

Trading Recommendation

Entry: 0.9025

Reason for Entry:

Horizontal swing low

Take Profit: 0.9008

Reason for Take Profit:

61.8 % Fibonacci extension

Stop Loss: 0.9043

Reason for Stop Loss:

61.8% fib retracement

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.mt5.com/forex_analysis/quickview/184584/