For Traders

Analytical Reviews

Technical analysis

21.03.201815:28 Forex Analysis & Reviews: Technical analysis of USD/CHF for March 21, 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 broke resistance at the level of 0.9523, which acts as support now. So, the pair has already formed minor support at 0.9523. The strong support is seen at the level of 0.9487 because it represents the weekly support. In the H1 time frame, the RSI and the moving average (100) are still pointing to the upside. Therefore, the market indicates a bullish opportunity at the level of 0.9523. Buy above the minor support of 0.9523 with a target at 0.9568 (this price is coinciding with thedouble top). Moreover, if the pair succeeds to pass through 0.9568, it will move upwards continuing the bullish trend development to 0.9606 in order to test the daily resistance 1. However, if a breakout happens at 0.9487, this scenario may be invalidated. Thus, if the pair closes below the minor support (0.9487), the price will fall into the bearish market in order to go further towards the strong support at 0.9436.

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.