USD/CHF: technical analysis
24 May 2018, 10:58
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL |
| Entry Point | 0.9928 |
| Take Profit | 0.9900, 0.9855, 0.9825 |
| Stop Loss | 0.9950 |
| Key Levels | 0.9825, 0.9855, 0.9900, 0.9950, 0.9980, 1.0050 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9980 |
| Take Profit | 1.0050 |
| Stop Loss | 0.9950 |
| Key Levels | 0.9825, 0.9855, 0.9900, 0.9950, 0.9980, 1.0050 |
USD/CHF, D1
On the daily chart, the pair is trading in the lower Bollinger band. The price remains above the EMA65, EMA130 and SMA200 that are directed up. The RSI is falling, having left the overbought zone. The Composite is turning up, having reached its critical oversold levels.
USD/CHF, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains on the level with the EMA14, EMA65 and EMA130 that start turning down, and above the SMA200 which is directed up. The RSI is about to retest the oversold zone, having failed its longer MA. The Composite is about to test its longer MA from above.
Key levels
Support levels: 0.9900 (local lows), 0.9855 (January 2017 lows), 0.9825 (March 2017 lows).
Resistance levels: 0.9950 (local highs), 0.9980 (December 2017 highs), 1.0050 (local highs).
Trading tips
The downward correction is likely to continue.
Short positions can be opened from current prices with targets at 0.9900, 0.9855, 0.9825 and stop-loss at 0.9950. Validity – 3-5 days.
Long positions can be opened from the level of 0.9980 with the target at 1.0050 and stop-loss at 0.9950. Validity – 3-5 days.
On the daily chart, the pair is trading in the lower Bollinger band. The price remains above the EMA65, EMA130 and SMA200 that are directed up. The RSI is falling, having left the overbought zone. The Composite is turning up, having reached its critical oversold levels.
USD/CHF, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains on the level with the EMA14, EMA65 and EMA130 that start turning down, and above the SMA200 which is directed up. The RSI is about to retest the oversold zone, having failed its longer MA. The Composite is about to test its longer MA from above.
Key levels
Support levels: 0.9900 (local lows), 0.9855 (January 2017 lows), 0.9825 (March 2017 lows).
Resistance levels: 0.9950 (local highs), 0.9980 (December 2017 highs), 1.0050 (local highs).
Trading tips
The downward correction is likely to continue.
Short positions can be opened from current prices with targets at 0.9900, 0.9855, 0.9825 and stop-loss at 0.9950. Validity – 3-5 days.
Long positions can be opened from the level of 0.9980 with the target at 1.0050 and stop-loss at 0.9950. Validity – 3-5 days.
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