For Traders

Analytical Reviews

Technical analysis

12.01.201812:52 Forex Analysis & Reviews: Technical analysis of USD/CHF for January 12, 2018

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 continues to move downwards from the level of 0.9778. Yesterday, the pair dropped from the level of 0.9778 to the bottom around 0.9700. Today, the first resistance level is seen at 0.9724 (the weekly pivot point) followed by 0.9748, while daily support 1 is found at 0.9700. Besides, the level of 0.9724 represents a weekly pivot point for that it is acting as major resistance today. Amid the previous events, the pair is still in a downtrend, because the USD/CHF pair is trading in a bearish trend from the new resistance line of 0.9724 towards the first support level at 0.9667 in order to test it. If the pair succeeds to pass through the level of 0.9667, the market will continue dropping towards the level of 0.9644. However, if a breakout happens at the resistance level of 0.9778, then this scenario may be invalidated.

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.