USD/CHF: technical analysis
08 May 2018, 11:19
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 1.0010 |
| Take Profit | 0.9955, 0.9915 |
| Stop Loss | 1.0035 |
| Key Levels | 0.9915, 0.9955, 1.0010, 1.0055, 1.0095, 1.0165 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.0095 |
| Take Profit | 1.0165 |
| Stop Loss | 1.0055 |
| Key Levels | 0.9915, 0.9955, 1.0010, 1.0055, 1.0095, 1.0165 |
USD/CHF, D1
On the daily chart, the instrument is growing along the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI keeps growing, having entered the overbought zone. The Composite starts diverging with the price dynamics.
USD/CHF, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is falling, having left the overbought zone. The Composite is falling as well.
Key levels
Support levels: 1.0010 (local lows), 0.9955 (local lows), 0.9915 (local lows).
Resistance levels: 1.0055 (local highs), 1.0095 (May 2017 highs), 1.0165 (March 2017 highs).
Trading tips
The possibility of a downward correction is increasing.
Short positions can be opened from the level of 1.0010 with targets at 0.9955, 0.9915 and stop-loss at 1.0035. Validity – 3-5 days.
Long positions can be opened from the level of 1.0095 with the target at 1.0165 and stop-loss at 1.0055. Validity – 3-5 days.
On the daily chart, the instrument is growing along the upper line of the Bollinger Bands. The price remains above its moving averages that start turning up. The RSI keeps growing, having entered the overbought zone. The Composite starts diverging with the price dynamics.
USD/CHF, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains above its moving averages that are directed up. The RSI is falling, having left the overbought zone. The Composite is falling as well.
Key levels
Support levels: 1.0010 (local lows), 0.9955 (local lows), 0.9915 (local lows).
Resistance levels: 1.0055 (local highs), 1.0095 (May 2017 highs), 1.0165 (March 2017 highs).
Trading tips
The possibility of a downward correction is increasing.
Short positions can be opened from the level of 1.0010 with targets at 0.9955, 0.9915 and stop-loss at 1.0035. Validity – 3-5 days.
Long positions can be opened from the level of 1.0095 with the target at 1.0165 and stop-loss at 1.0055. Validity – 3-5 days.
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