USD/CHF: technical analysis
30 May 2019, 11:10
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 1.0125 |
| Take Profit | 1.0200, 1.0235 |
| Stop Loss | 1.0075 |
| Key Levels | 0.9790, 0.9900, 0.9955, 1.0125, 1.0200, 1.0235 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 0.9900 |
| Take Profit | 0.9790 |
| Stop Loss | 0.9955 |
| Key Levels | 0.9790, 0.9900, 0.9955, 1.0125, 1.0200, 1.0235 |
USD/CHF, H4
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains on the level with the EMA65 and EMA130, and below the SMA200 which is turning horizontally. The RSI is testing its quite strong resistance. The Composite is testing from above its longer MA.
USD/CHF, D1
On the daily chart, the pair is trading in the lower Bollinger band. The price remains above its moving averages that turned horizontally. The RSI is about to test from below its longer MA. The Composite is breaking out its longer MA, having formed a Bullish divergence with the price.
Key levels
Support levels: 0.9955 (local lows), 0.9900 (March lows), 0.9790 (June 2018 lows).
Resistance levels: 1.0125 (March highs), 1.0200 (local highs), 1.0235 (April highs).
Trading tips
The price is about to test its local resistance near 1.0125. Its breakout would lead to a growth continuation.
Long positions can be opened from the level of 1.0125 with targets at 1.0200, 1.0235 and stop-loss at 1.0075. Validity – 3-5 days.
Short positions can be opened from the level of 0.9900 with the target at 0.9790 and stop-loss at 0.9955. Validity – 3-5 days.
On the 4-hour chart, the pair is trading in the upper Bollinger band. The price remains on the level with the EMA65 and EMA130, and below the SMA200 which is turning horizontally. The RSI is testing its quite strong resistance. The Composite is testing from above its longer MA.
USD/CHF, D1
On the daily chart, the pair is trading in the lower Bollinger band. The price remains above its moving averages that turned horizontally. The RSI is about to test from below its longer MA. The Composite is breaking out its longer MA, having formed a Bullish divergence with the price.
Key levels
Support levels: 0.9955 (local lows), 0.9900 (March lows), 0.9790 (June 2018 lows).
Resistance levels: 1.0125 (March highs), 1.0200 (local highs), 1.0235 (April highs).
Trading tips
The price is about to test its local resistance near 1.0125. Its breakout would lead to a growth continuation.
Long positions can be opened from the level of 1.0125 with targets at 1.0200, 1.0235 and stop-loss at 1.0075. Validity – 3-5 days.
Short positions can be opened from the level of 0.9900 with the target at 0.9790 and stop-loss at 0.9955. Validity – 3-5 days.
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