USD/CHF: technical analysis
08 September 2017, 11:29
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 0.9425 |
| Take Profit | 0.9330, 0.9245 |
| Stop Loss | 0.9485 |
| Key Levels | 0.9245, 0.9330, 0.9425, 0.9695, 0.9770, 0.9855 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9695 |
| Take Profit | 0.9770, 0.9855 |
| Stop Loss | 0.9645 |
| Key Levels | 0.9245, 0.9330, 0.9425, 0.9695, 0.9770, 0.9855 |
USD/CHF, D1
On the daily chart, the pair is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is approaching the border of the oversold zone. The Composite is about to test its strong support.
USD/CHF, H4
On the 4-hour chart, the pair is trading just above the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is growing having left the oversold zone. The Composite turned up as well.
Key levels
Support levels: 0.9425 (local lows), 0.9330 (December 2010 lows), 0.9245 (September 2012 lows).
Resistance levels: 0.9695 (local highs), 0.9770 (August highs), 0.9855 (January lows).
Trading tips
The price is testing a quite strong support level near 0.9425. Its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 0.9425 with targets at 0.9330, 0.9245 and stop-loss at 0.9485. Validity – 3-5 days.
Long positions can be opened from the level of 0.9695 with targets at 0.9770, 0.9855 and stop-loss at 0.9645. Validity – 3-5 days.
On the daily chart, the pair is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is approaching the border of the oversold zone. The Composite is about to test its strong support.
USD/CHF, H4
On the 4-hour chart, the pair is trading just above the lower line of the Bollinger Bands. The price remains below its moving averages that start turning down. The RSI is growing having left the oversold zone. The Composite turned up as well.
Key levels
Support levels: 0.9425 (local lows), 0.9330 (December 2010 lows), 0.9245 (September 2012 lows).
Resistance levels: 0.9695 (local highs), 0.9770 (August highs), 0.9855 (January lows).
Trading tips
The price is testing a quite strong support level near 0.9425. Its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 0.9425 with targets at 0.9330, 0.9245 and stop-loss at 0.9485. Validity – 3-5 days.
Long positions can be opened from the level of 0.9695 with targets at 0.9770, 0.9855 and stop-loss at 0.9645. Validity – 3-5 days.
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