USD/CHF: technical analysis
16 August 2018, 11:46
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 0.9900 |
| Take Profit | 0.9855 |
| Stop Loss | 0.9925 |
| Key Levels | 0.9802, 0.9826, 0.9854, 0.9878, 0.9909, 0.9930, 0.9971, 1.0005, 1.0037, 1.0069 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9950 |
| Take Profit | 0.9990 |
| Stop Loss | 0.9927 |
| Key Levels | 0.9802, 0.9826, 0.9854, 0.9878, 0.9909, 0.9930, 0.9971, 1.0005, 1.0037, 1.0069 |
USD/CHF, D1
On the daily chart, the instrument could not consolidate above the strong resistance level of 0.9930 and began to decline. Bollinger bands are directed horizontally, and the price range remains limited, reflecting the corrective dynamics of the pair. MACD histogram does not give a clear signal for entering the market. Stochastic is corrected in the neutral area, the signal for opening positions is not formed.
USD/CHF, H4
On the 4-hour chart, the instrument is traded at the bottom of Bollinger bands. The indicator is reversed downwards, and the price range has expanded, which indicates the continuation of the current trend. MACD histogram is corrected at the zero line. Stochastic entered the oversold zone, a strong buy signal can be formed in the next few hours.
Key Levels
Resistance levels: 0.9930, 0.9971, 1.0005, 1.0037, 1.0069.
Support levels: 0.9802, 0.9826, 0.9854, 0.9878, 0.9909.
Trading tips
Short positions can be opened below the level of 0.9905 with the target at 0.9855 and stop loss 0.9925.
Long positions can be opened above the level of 0.9943 with the target at 0.9990 and stop loss 0.9927.
Implementation period: 1–2 days.
On the daily chart, the instrument could not consolidate above the strong resistance level of 0.9930 and began to decline. Bollinger bands are directed horizontally, and the price range remains limited, reflecting the corrective dynamics of the pair. MACD histogram does not give a clear signal for entering the market. Stochastic is corrected in the neutral area, the signal for opening positions is not formed.
USD/CHF, H4
On the 4-hour chart, the instrument is traded at the bottom of Bollinger bands. The indicator is reversed downwards, and the price range has expanded, which indicates the continuation of the current trend. MACD histogram is corrected at the zero line. Stochastic entered the oversold zone, a strong buy signal can be formed in the next few hours.
Key Levels
Resistance levels: 0.9930, 0.9971, 1.0005, 1.0037, 1.0069.
Support levels: 0.9802, 0.9826, 0.9854, 0.9878, 0.9909.
Trading tips
Short positions can be opened below the level of 0.9905 with the target at 0.9855 and stop loss 0.9925.
Long positions can be opened above the level of 0.9943 with the target at 0.9990 and stop loss 0.9927.
Implementation period: 1–2 days.
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