USD/CHF

USD/CHF: technical analysis

USD/CHF, D1, On the daily chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is about to test from below its longer MA. The Composite is testing its longer MA as well.

a3cd6ce8c280eb7685dabe76ee43f39b.png

USD/CHF, H4

On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains on the level with its moving averages that are horizontal. The RSI is approaching its quite strong resistance near the border of the overbought zone. The Composite is forming a Bearish divergence with the price. 

 

Key levels

Support levels: 0.9920 (local lows), 0.9850 (July lows), 0.9830 (local lows).

Resistance levels: 1.0050 (May highs), 1.0115 (local highs), 1.0230 (January 2015 highs).

Trading tips

The price keeps testing its strong resistance near 1.0050. There is a chance of a downward rebound, while its breakout would lead to a growth continuation.

Short positions can be opened from the level of 0.9920 with targets at 0.9850, 0.9830 and stop-loss at 0.9940. Validity – 3-5 days.

Long positions can be opened from the level of 1.0115 with the target at 1.0230 and stop-loss at 1.0050. Validity – 3-5 days.

 

Scenario

Timeframe Weekly
Recommendation SELL STOP
Entry Point 0.9920
Take Profit 0.9850, 0.9830
Stop Loss 0.9940
Key Levels 0.9830, 0.9850, 0.9920, 1.0050, 1.0115, 1.0230

 

Alternative scenario

 

Recommendation BUY STOP
Entry Point 1.0115
Take Profit 1.0230
Stop Loss 1.0050
Key Levels 0.9830, 0.9850, 0.9920, 1.0050, 1.0115, 1.0230

Add comment

Security code
Refresh

Subscription

Forex Forecast

© 2014-2018 ForexCrypto.top, Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. ForexCrypto.top is an affiliate partner with various brokers and may be compensated for referred Traders. All reviews remain unbiased and objective and immediate action will be taken against any broker which is found to be in breach of regulation. These partnerships have proven to be great aids in the furthering communication between brokers and our visitors. Only the NFA regulated brokers featured on this site are available to U.S. customers. Forex

Search