USD/CHF: technical analysis
07 February 2019, 10:45
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | BUY STOP |
| Entry Point | 1.0035 |
| Take Profit | 1.0099 |
| Stop Loss | 1.0005 |
| Key Levels | 0.9807, 0.9850, 0.9910, 0.9958, 0.9994, 1.0030, 1.0076, 1.0099 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9990 |
| Take Profit | 0.9935 |
| Stop Loss | 1.0010 |
| Key Levels | 0.9807, 0.9850, 0.9910, 0.9958, 0.9994, 1.0030, 1.0076, 1.0099 |
USD/CHF, D1
In the D1 chart, the instrument is trading around the upper border of Bollinger Bands. The indicator is directed upwards and the price range has reduced insignificantly, which indicates the continuation of the uptrend. MACD histogram is in the positive zone keeping the buy signal. Stochastic has entered the overbought area; a strong sale signal can be formed during the week.
USD/CHF, H4
In the H4 chart, the instrument is trading near the upper line of Bollinger Bands. The indicator is directed upwards, and the price range has reduced insignificantly, which indicates the intraday correction of the uptrend. MACD is keeping a stable buy signal. Stochastic has entered the overbought area; a strong sell signal can be generated during the day.
Key levels
Resistance levels: 1.0030, 1.0076, 1.0099.
Support levels: 0.9994, 0.9958, 0.9910, 0.9850, 0.9807.
Trading tips
Long positions may be opened above the level of 1.0030 with target at 1.0099 and stop loss at 1.0005.
Short positions may be opened below the level of 0.9995 with target at 0.9935 and stop loss at 1.0010.
Implementation time: 1-2 days.
In the D1 chart, the instrument is trading around the upper border of Bollinger Bands. The indicator is directed upwards and the price range has reduced insignificantly, which indicates the continuation of the uptrend. MACD histogram is in the positive zone keeping the buy signal. Stochastic has entered the overbought area; a strong sale signal can be formed during the week.
USD/CHF, H4
In the H4 chart, the instrument is trading near the upper line of Bollinger Bands. The indicator is directed upwards, and the price range has reduced insignificantly, which indicates the intraday correction of the uptrend. MACD is keeping a stable buy signal. Stochastic has entered the overbought area; a strong sell signal can be generated during the day.
Key levels
Resistance levels: 1.0030, 1.0076, 1.0099.
Support levels: 0.9994, 0.9958, 0.9910, 0.9850, 0.9807.
Trading tips
Long positions may be opened above the level of 1.0030 with target at 1.0099 and stop loss at 1.0005.
Short positions may be opened below the level of 0.9995 with target at 0.9935 and stop loss at 1.0010.
Implementation time: 1-2 days.
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