USD/CHF: technical analysis
07 August 2019, 11:49
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 0.9700 |
| Take Profit | 0.9650, 0.9610 |
| Stop Loss | 0.9740 |
| Key Levels | 0.9610, 0.9650, 0.9700, 0.9810, 0.9880, 0.9950 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 0.9810 |
| Take Profit | 0.9880 |
| Stop Loss | 0.9770 |
| Key Levels | 0.9610, 0.9650, 0.9700, 0.9810, 0.9880, 0.9950 |
USD/CHF, H4
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is testing from below its longer MA. The Composite is approaching its strong resistance region.
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 falling, having broken down its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 0.9700 (June lows), 0.9650 (August 2018 lows), 0.9610 (local lows).
Resistance levels: 0.9810 (local highs), 0.9880 (local highs), 0.9950 (July highs).
Trading tips
The price has retested its strong support near 0.9700. There is a chance of an upward correction, while its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 0.9700 with targets at 0.9650, 0.9610 and stop-loss at 0.9740. Validity – 3-5 days.
Long positions can be opened from the level of 0.9810 with the target at 0.9880 and stop-loss at 0.9770. Validity – 3-5 days.
On the 4-hour chart, the pair is trading on the middle MA of the Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is testing from below its longer MA. The Composite is approaching its strong resistance region.
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 falling, having broken down its longer MA. The Composite is showing similar dynamics.
Key levels
Support levels: 0.9700 (June lows), 0.9650 (August 2018 lows), 0.9610 (local lows).
Resistance levels: 0.9810 (local highs), 0.9880 (local highs), 0.9950 (July highs).
Trading tips
The price has retested its strong support near 0.9700. There is a chance of an upward correction, while its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 0.9700 with targets at 0.9650, 0.9610 and stop-loss at 0.9740. Validity – 3-5 days.
Long positions can be opened from the level of 0.9810 with the target at 0.9880 and stop-loss at 0.9770. Validity – 3-5 days.
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