empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

21.07.201418:32 Forex Analysis & Reviews: Technical analysis of USD/CHF for July 21, 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.

Exchange Rates 21.07.2014 analysis

Overview:

USD/CHF is expected to consolidate after hitting a one-month high at 0.9004 on Friday. It is undermined by a weaker USD sentiment. But USD/CHF downside is limited by the franc sales on buoyant EUR/CHF cross and dovish Swiss National Bank's monetary policy. The daily chart is mixed as MACD is bullish, a five-day moving average is above 1a 5-day MA and is advancing, but stochastics is turning bearish to the overbought zone.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As long as the price is keeping above its pivot point, a long position is recommended with the first target at 0.9 and the second target at 0.9015. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8935. A break of this target would push the pair further downwards and one may expect the second target at 0.8910. The pivot point is at 0.8965.

Resistance levels:
0.9
0.9015
0.9040

Support levels:

0.8935
0.8910
0.8895

InstaForex Analyst
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off