For Traders

Analytical Reviews

Technical analysis

17.05.201816:43 Forex Analysis & Reviews: Technical analysis of USD/CHF for May 17, 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. The pair is consolidating above the key support at 0.9980 (lows of May 15 and 16), which should maintain the buying interest. The relative strength index stands firmly above its neutrality level at 50 and lacks downward momentum. Hence, as long as 0.9980 holds on the downside, look for a further rebound with targets at 1.0055 and 1.0085 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 0.9980, take profit at 1.0055.

Resistance levels: 1.0055, 1.0085, and 1.0110

Support levels: 0.9955, 0.9930, and 0.9890

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.