For Traders

Analytical Reviews

Technical analysis

28.12.201708:25 Forex Analysis & Reviews: Technical analysis of USD/CHF for December 28, 2017

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.

USD/CHF is expected to trade with a bearish outlook. The pair is clearly reversing down, capped by its falling 20-period and 50-period moving averages. The recent bearish breakout of a key horizontal level at 0.9885 should open the downside path toward 0.9810. Last but not least, the relative strength index is badly directed and calls for a new pullback.

To conclude, as long as 0.9875 isn't surpassed, look for further downsides to 0.9810 and 0.9795 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: SELL, Stop Loss: 0.9875, Take Profit: 0.9810

Resistance levels: 0.9900, 0.9915, and 0.9935

Support levels: 0.9810, 0.9795, and 0.9750

Back to the list

Open trading account

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.