31.10.201405:37 Forex Analysis & Reviews: Review on USD/CHF for October 31, 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.

Stronger US data pushed the pair above 6-day high. In yesterday's session, we recommend buying above 0.9562 with the targets at 0.9600 an 0.9625. The pair made a high at 0.9610. We can expect a bigger upswing above 0.9625 the 80.0 fib level towards 0.9685 and 0.9726 on a positional basis. On the down side, the pair has support at 0.9510 20Dsma. Below 0.9510, the ascending trend line will provide enough support to push the prices higher. In case the prices close below the ascending trend line, the base support 0.9400 will act as strong support. The pair has been trading in a 160 pips range. For an intraday session, the pair has support at 0.9540. In case the pair closes above 0.9576 on a daily basis, it can challenge 100 pips more on the upper side. For an hourly basis, above 0.9576 we can expect good momentum towards 0.9590, 0.9610, and 0.9625 levels.

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.