USD/CHF: technical analysis
30 March 2018, 10:01
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 0.9530 |
| Take Profit | 0.9605 |
| Stop Loss | 0.9500 |
| Key Levels | 0.9402, 0.9426, 0.9467, 0.9514, 0.9530, 0.9556, 0.9582, 0.9605, 0.9633 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9490 |
| Take Profit | 0.9440 |
| Stop Loss | 0.9535 |
| Key Levels | 0.9402, 0.9426, 0.9467, 0.9514, 0.9530, 0.9556, 0.9582, 0.9605, 0.9633 |
USD/CHF, D1
On the daily chart, the instrument is trading near the upper border of Bollinger Bands. The indicator is reversing upwards, as the price range has narrowed, which reflects the change of the upward trend. The key resistance is at the level of 0.9577, the breakout of it will give a strong buy signal. MACD is in the positive zone, keeping buy signal. Stochastic has entered the overbought area; the entry signal can be formed in the nearest hours.
USD/CHF, H4
On the 4-hour chart, the instrument is in the correction in the upper part of Bollinger Bands. The indicator is pointed upwards, as the price range has narrowed, the correction of the downward trend is still relevant. MACD histogram is in the positive zone, keeping a strong buy signal. Stochastic is ready to enter the oversold area.
Key levels
Resistance levels: 0.9556, 0.9582, 0.9605, 0.9633.
Support levels: 0.9402, 0.9426, 0.9467, 0.9514, 0.9530.
Trading tips
Long positions can be opened at the level of 0.9530 with the target at 0.9605 and stop loss 0.9500. Implementation period: 1–2 days.
Short positions can be opened below the level of 0.9500 with the target at 0.9440 and stop loss 0.9535. Implementation period: 1–3 days.
On the daily chart, the instrument is trading near the upper border of Bollinger Bands. The indicator is reversing upwards, as the price range has narrowed, which reflects the change of the upward trend. The key resistance is at the level of 0.9577, the breakout of it will give a strong buy signal. MACD is in the positive zone, keeping buy signal. Stochastic has entered the overbought area; the entry signal can be formed in the nearest hours.
USD/CHF, H4
On the 4-hour chart, the instrument is in the correction in the upper part of Bollinger Bands. The indicator is pointed upwards, as the price range has narrowed, the correction of the downward trend is still relevant. MACD histogram is in the positive zone, keeping a strong buy signal. Stochastic is ready to enter the oversold area.
Key levels
Resistance levels: 0.9556, 0.9582, 0.9605, 0.9633.
Support levels: 0.9402, 0.9426, 0.9467, 0.9514, 0.9530.
Trading tips
Long positions can be opened at the level of 0.9530 with the target at 0.9605 and stop loss 0.9500. Implementation period: 1–2 days.
Short positions can be opened below the level of 0.9500 with the target at 0.9440 and stop loss 0.9535. Implementation period: 1–3 days.
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