Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
Overview:
- The USD/CHF pair has still traded above the minor support at 0.9556. The pair is trapping between 0.9560 and 0.9643. Also, it should be noted that the psychological level was set at 0.9623 which represents a pivot point today. As it is shown in the H1 chart, supports were found at the levels of 0.9556 and double bottom at 0.9480. Therefore, buy deals are recommended above this spot with a target at 0.9633. Moreover, USD/CHF pair is going to try to break the daily pivot point at 0.9633 to call for the bullish market above 0.9633. Consequently, the price will continue moving towards the level of 0.9727 in order to test the ratio of 38.2% Fibonacci retracement levels at this level in the H1 chart. On the other hand, the stop loss should always be in account, so it will be good to set your stop loss at the level of 0.9470 (below the double bottom).
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.