USD/CHF: technical analysis
22 July 2019, 12:26
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 0.9785 |
| Take Profit | 0.9715, 0.9690 |
| Stop Loss | 0.9820 |
| Key Levels | 0.9690, 0.9715, 0.9785, 0.9910, 0.9950, 1.0015 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9955 |
| Take Profit | 1.0015 |
| Stop Loss | 0.9910 |
| Key Levels | 0.9690, 0.9715, 0.9785, 0.9910, 0.9950, 1.0015 |
USD/CHF, H4
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from below its longer MA. The Composite is growing, having broken out its longer MA.
USD/CHF, D1
On the daily chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from above its longer MA. The Composite is approaching its strong support.
Key levels
Support levels: 0.9785 (local lows), 0.9715 (January lows), 0.9690 (local lows).
Resistance levels: 0.9910 (local highs), 0.9950 (local highs), 1.0015 (local highs).
Trading tips
The fall is likely to continue.
Short positions can be opened from the level of 0.9785 with targets at 0.9715, 0.9690 and stop-loss at 0.9820. Validity – 3-5 days.
Long positions can be opened from the level of 0.9950 with the target at 1.0015 and stop-loss at 0.9910. Validity – 3-5 days.
On the 4-hour chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from below its longer MA. The Composite is growing, having broken out its longer MA.
USD/CHF, D1
On the daily chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is testing from above its longer MA. The Composite is approaching its strong support.
Key levels
Support levels: 0.9785 (local lows), 0.9715 (January lows), 0.9690 (local lows).
Resistance levels: 0.9910 (local highs), 0.9950 (local highs), 1.0015 (local highs).
Trading tips
The fall is likely to continue.
Short positions can be opened from the level of 0.9785 with targets at 0.9715, 0.9690 and stop-loss at 0.9820. Validity – 3-5 days.
Long positions can be opened from the level of 0.9950 with the target at 1.0015 and stop-loss at 0.9910. Validity – 3-5 days.
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