For Traders

Analytical Reviews

Technical analysis

22.04.201411:15 Forex Analysis & Reviews: Weekly technical levels of USD/CHF for April 22, 2014

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.

The movement of pivot point among resistances and supports.

If the price is at pivot point, watch for a move back to resistance 1 or support 1.
If the price is at resistance 1, expect a move to resistance 2 or back towards pivot point.
If the price is at support 1, expect a move to support 2 or back towards resistance 1.
If the price is at support 2, expect a move to support 3 or back towards support 1.
If the price is at resistance 2, expect a move to resistance 3 or back towards resistance 1.
It should be noted that if there is no significant news to influence, the market price will be moving from pivot point to resistance 1 or support 1. But if there is a significant news to influence, the market price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.

Weekly technical levels of the USD/CHF pair:

Overview:

As it is known, the sellers are asking for a high price. And the supply zone has set between the level of 0.8860 and the 0.8880 level.
The double top will set at the level of 0.8856. The minor support is going to set at 0.8812. And this level is going to represent the weekly pivot point on April 22, 2014.
The major support had already set at the price of 0.8787. Moreover, the double bottom is also coinciding with the major support.
The price hit the weekly pivot point and the resistance 1 last week, because of the series of relatively equal highs and equal lows.
We expect a range of 163 pips this week.
The key level will set at the level of 0.8880 today.

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.