USD/CHF: technical analysis
28 May 2019, 10:32
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 1.0000 |
| Take Profit | 0.9950 |
| Stop Loss | 1.0030 |
| Key Levels | 0.9975, 1.0008, 1.0022, 1.0049, 1.0062, 1.0079, 1.0098, 1.0120 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.0065 |
| Take Profit | 1.0120 |
| Stop Loss | 1.0030 |
| Key Levels | 0.9975, 1.0008, 1.0022, 1.0049, 1.0062, 1.0079, 1.0098, 1.0120 |
USD/CHF, H4
On the H4 chart, there is a correction of the downward movement. The instrument is trading around the center line of Bollinger Bands, the price range is expanded, which indicates a likely resumption of decline in the short term. MACD histogram is in the negative zone keeping a signal for the opening of short positions. Stochastic is in the neutral zone, and the lines of the oscillator are directed downwards.
USD/CHF, D1
On the D1 chart, there is the ascending correction and the downtrend is still in force. The instrument is trading near the lower line of Bollinger Bands, the indicator cloud is expanded. MACD histogram is in the negative zone, the signal line is crossing the zero line from above forming a signal for opening short positions. Stochastic is about to cross the border of the oversold zone from above, and the sell signal remains.
Key levels
Resistance levels: 1.0049, 1.0062, 1.0079, 1.0098, 1.0120.
Support levels: 1.0022, 1.0008, 0.9975.
Trading tips
Short positions may be opened from 1.0000 with target at 0.9950 and stop loss at 1.0030.
Long positions may be opened from 1.0065 with target at 1.0120. Stop loss – 1.0030.
Implementation time: 1-3 days.
On the H4 chart, there is a correction of the downward movement. The instrument is trading around the center line of Bollinger Bands, the price range is expanded, which indicates a likely resumption of decline in the short term. MACD histogram is in the negative zone keeping a signal for the opening of short positions. Stochastic is in the neutral zone, and the lines of the oscillator are directed downwards.
USD/CHF, D1
On the D1 chart, there is the ascending correction and the downtrend is still in force. The instrument is trading near the lower line of Bollinger Bands, the indicator cloud is expanded. MACD histogram is in the negative zone, the signal line is crossing the zero line from above forming a signal for opening short positions. Stochastic is about to cross the border of the oversold zone from above, and the sell signal remains.
Key levels
Resistance levels: 1.0049, 1.0062, 1.0079, 1.0098, 1.0120.
Support levels: 1.0022, 1.0008, 0.9975.
Trading tips
Short positions may be opened from 1.0000 with target at 0.9950 and stop loss at 1.0030.
Long positions may be opened from 1.0065 with target at 1.0120. Stop loss – 1.0030.
Implementation time: 1-3 days.
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