USD/CHF: technical analysis
13 September 2017, 13:10
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 0.9645 |
| Take Profit | 0.9765 |
| Stop Loss | 0.9615 |
| Key Levels | 0.9415, 0.9440, 0.9550, 0.9615, 0.9645, 0.9765 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9550 |
| Take Profit | 0.9440, 0.9415 |
| Stop Loss | 0.9580 |
| Key Levels | 0.9415, 0.9440, 0.9550, 0.9615, 0.9645, 0.9765 |
USD/CHF, D1
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having broken out its longer MA. The Composite is growing, having formed a Bullish divergence with the price.
USD/CHF, H4
On the 4-hour chart, the price is trading in the upper Bollinger band. The price remains above the EMA14, EMA65 and EMA130 that start turning up, but below the SMA200, which is horizontal. The RSI turned down, having failed its strong resistance just below the overbought zone. The Composite is testing its longer MA from above.
Key levels
Support levels: 0.9550 (June lows), 0.9440 (July lows), 0.9415 (local lows).
Resistance levels: 0.9615 (local highs), 0.9645 (local highs), 0.9765 (June highs).
Trading tips
The price is consolidating in a sideways channel. There is a chance of a retest of its upper border.
Long positions can be opened from the level of 0.9645 with the target at 0.9765 and stop-loss at 0.9615. Validity – 3-5 days.
Short positions can be opened from the level of 0.9550 with targets at 0.9440, 0.9415 and stop-loss at 0.9580. Validity – 3-5 days.
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing, having broken out its longer MA. The Composite is growing, having formed a Bullish divergence with the price.
USD/CHF, H4
On the 4-hour chart, the price is trading in the upper Bollinger band. The price remains above the EMA14, EMA65 and EMA130 that start turning up, but below the SMA200, which is horizontal. The RSI turned down, having failed its strong resistance just below the overbought zone. The Composite is testing its longer MA from above.
Key levels
Support levels: 0.9550 (June lows), 0.9440 (July lows), 0.9415 (local lows).
Resistance levels: 0.9615 (local highs), 0.9645 (local highs), 0.9765 (June highs).
Trading tips
The price is consolidating in a sideways channel. There is a chance of a retest of its upper border.
Long positions can be opened from the level of 0.9645 with the target at 0.9765 and stop-loss at 0.9615. Validity – 3-5 days.
Short positions can be opened from the level of 0.9550 with targets at 0.9440, 0.9415 and stop-loss at 0.9580. Validity – 3-5 days.
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