USD/CHF: technical analysis
04 February 2019, 09:35
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY |
| Entry Point | 0.9969 |
| Take Profit | 1.0035 |
| Stop Loss | 0.9930 |
| Key Levels | 0.9758, 0.9811, 0.9850, 0.9910, 0.9947, 0.9983, 1.0006, 1.0038, 1.0090 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9920 |
| Take Profit | 0.9805 |
| Stop Loss | 0.9965 |
| Key Levels | 0.9758, 0.9811, 0.9850, 0.9910, 0.9947, 0.9983, 1.0006, 1.0038, 1.0090 |
USD/CHF, D1
On the daily chart, the instrument is strengthening at the top of Bollinger bands. The indicator reverses upwards, and the price range remains wide, indicating a continuation of the upward trend. MACD histogram is in the positive zone, its volumes slightly increased, forming a poor buy signal. Stochastic does not give a signal to enter the market.
USD/CHF, H4
On the 4-hour chart, the instrument consolidated at the top of Bollinger bands. The indicator is directed horizontally, and the price range is expanding, which indicates a continuation of the uptrend. MACD histogram is being corrected at the zero line. Stochastic entered the overbought area; a strong sell signal can be formed during the day.
Key levels
Resistance levels: 0.9983, 1.0006, 1.0038, 1.0090.
Support levels: 0.9947, 0.9910, 0.9850, 0.9811, 0.9758.
Trading tips
Long positions can be opened from the current level with the target at 1.0035 and stop loss 0.9930.
Short positions can be opened below the level of 0.9925 with the target at 0.9805 and stop loss 0.9965.
Implementation period: 1–3 days.
On the daily chart, the instrument is strengthening at the top of Bollinger bands. The indicator reverses upwards, and the price range remains wide, indicating a continuation of the upward trend. MACD histogram is in the positive zone, its volumes slightly increased, forming a poor buy signal. Stochastic does not give a signal to enter the market.
USD/CHF, H4
On the 4-hour chart, the instrument consolidated at the top of Bollinger bands. The indicator is directed horizontally, and the price range is expanding, which indicates a continuation of the uptrend. MACD histogram is being corrected at the zero line. Stochastic entered the overbought area; a strong sell signal can be formed during the day.
Key levels
Resistance levels: 0.9983, 1.0006, 1.0038, 1.0090.
Support levels: 0.9947, 0.9910, 0.9850, 0.9811, 0.9758.
Trading tips
Long positions can be opened from the current level with the target at 1.0035 and stop loss 0.9930.
Short positions can be opened below the level of 0.9925 with the target at 0.9805 and stop loss 0.9965.
Implementation period: 1–3 days.
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