For Traders

Analytical Reviews

Technical analysis

20.02.201813:52 Forex Analysis & Reviews: Technical analysis of USD/CHF for February 20, 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.

USD/CHF is expected to trade with a bullish outlook. Despite the recent pullback from 0.9320 (the high of February 19), the pair is still supported by a rising 50-period moving average. The relative strength index stands firmly above its neutrality level at 50. The downside potential should be limited by the key support at 0.9280.

Hence, as long as this key level is not broken, look for a new rise with targets at 0.9385 and 0.9410 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 point 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: BUY, stop loss at 0.9280, take profit at 0.9385.

Resistance levels: 0.9385, 0.9410, and 0.9465

Support levels: 0.9260, 0.9230, and 0.9200.

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.