USD/CHF: technical analysis
13 August 2018, 13:13
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 0.9895 |
| Take Profit | 0.9855, 0.9825 |
| Stop Loss | 0.9920 |
| Key Levels | 0.9825, 0.9855, 0.9895, 0.9990, 1.0035, 1.0055 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9990 |
| Take Profit | 1.0035, 1.0055 |
| Stop Loss | 0.9965 |
| Key Levels | 0.9825, 0.9855, 0.9895, 0.9990, 1.0035, 1.0055 |
USD/CHF, D1
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI keeps testing from below its longer MA. The Composite turned up, having bounced off its longer MA.
USD/CHF, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains on the level with its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite is testing its longer MA from above.
Key levels
Support levels: 0.9895 (local lows), 0.9855 (July lows), 0.9825 (local lows).
Resistance levels: 0.9990 (June highs), 1.0035 (November 2017 highs), 1.0055 (May highs).
Trading tips
The price seems to be forming a correctional “triangle”. A breakdown of its lower border would allow the fall to continue.
Short positions can be opened from the level of 0.9895 with targets at 0.9855, 0.9825 and stop-loss at 0.9920. Validity – 3-5 days.
Long positions can be opened from the level of 0.9990 with targets at 1.0035, 1.0055 and stop-loss at 0.9965. Validity – 3-5 days.
On the daily chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains above its moving averages that are directed up. The RSI keeps testing from below its longer MA. The Composite turned up, having bounced off its longer MA.
USD/CHF, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains on the level with its moving averages that are horizontal. The RSI is testing from below its longer MA. The Composite is testing its longer MA from above.
Key levels
Support levels: 0.9895 (local lows), 0.9855 (July lows), 0.9825 (local lows).
Resistance levels: 0.9990 (June highs), 1.0035 (November 2017 highs), 1.0055 (May highs).
Trading tips
The price seems to be forming a correctional “triangle”. A breakdown of its lower border would allow the fall to continue.
Short positions can be opened from the level of 0.9895 with targets at 0.9855, 0.9825 and stop-loss at 0.9920. Validity – 3-5 days.
Long positions can be opened from the level of 0.9990 with targets at 1.0035, 1.0055 and stop-loss at 0.9965. Validity – 3-5 days.
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