USD/CHF: technical analysis
22 January 2019, 09:10
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 0.9995 |
| Take Profit | 1.0070 |
| Stop Loss | 0.9960 |
| Key Levels | 0.9550, 0.9805, 0.9850, 0.9909, 0.9950, 0.9990, 1.0038, 1.0070, 1.0106 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9940 |
| Take Profit | 0.9849 |
| Stop Loss | 0.9970 |
| Key Levels | 0.9550, 0.9805, 0.9850, 0.9909, 0.9950, 0.9990, 1.0038, 1.0070, 1.0106 |
USD/CHF, D1
On the daily chart, the instrument is strengthening at the top of Bollinger bands. The key resistance level is 0.9990. The indicator is directed horizontally, and the price range is widening, which is the basis for the continuation of the upward trend. MACD histogram is being corrected at the zero line. Stochastic entered the overbought area, a strong sell signal can be formed within 2–3 days.
USD/CHF, H4
On the 4-hour chart, the instrument is trading within a limited price range. Bollinger bands are directed upwards, and the price range has decreased, indicating an intraday upward correction. MACD histogram keeps a strong buy signal. Stochastic left the overbought area, forming a sell signal.
Key levels
Resistance levels: 0.9990, 1.0038, 1.0070, 1.0106.
Support levels: 0.9950, 0.9909, 0.9850, 0.9805, 0.9550.
Trading tips
Long positions can be opened above the level of 0.9990 with the target at 1.0070 and stop loss 0.9960.
Short positions can be opened below the level of 0.9945 with the target at 0.9849 and stop loss 0.9970.
Implementation period: 1–2 days.
On the daily chart, the instrument is strengthening at the top of Bollinger bands. The key resistance level is 0.9990. The indicator is directed horizontally, and the price range is widening, which is the basis for the continuation of the upward trend. MACD histogram is being corrected at the zero line. Stochastic entered the overbought area, a strong sell signal can be formed within 2–3 days.
USD/CHF, H4
On the 4-hour chart, the instrument is trading within a limited price range. Bollinger bands are directed upwards, and the price range has decreased, indicating an intraday upward correction. MACD histogram keeps a strong buy signal. Stochastic left the overbought area, forming a sell signal.
Key levels
Resistance levels: 0.9990, 1.0038, 1.0070, 1.0106.
Support levels: 0.9950, 0.9909, 0.9850, 0.9805, 0.9550.
Trading tips
Long positions can be opened above the level of 0.9990 with the target at 1.0070 and stop loss 0.9960.
Short positions can be opened below the level of 0.9945 with the target at 0.9849 and stop loss 0.9970.
Implementation period: 1–2 days.
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