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:
- According to the previous events, the USD/CHF pair is still moving between the levels of 0.9813 and 1.0145. So, we expect a large range of about 332 pips this week. The breakout is seen at the ratio of 38.2% Fibonacci retracement level (0.9812). But the key level is set at 0.9910 because it represents minor support and it is coinciding with the 50% Fibonacci retracement level. The history is likely to repeat itself at this level again. Therefore, it will be a good sign to buy above 0.9910 with the first target at 1.0008. It will call for an uptrend in order to continue its bullish movement towards 1.0150. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the double top at 0.9785.
Intraday technical levels:
Date: 22/12/2015
Pair: USD/CHF
- R3: 1.0229
- R2: 1.0149
- R1: 1.0008
- PP: 0.9910
- S1: 0.9813
- S2: 0.9693
- S3: 0.9591
Warning:
- It should be noted that if there is no significant news to influence the market, the price is likely to be moving from pivot point to resistance 1 or support 1. But if there is significant news, the price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.
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.