For Traders

Analytical Reviews

Technical analysis

05.04.201214:34 Forex Analysis & Reviews: USD/CHF Technical Analysis and Trading Recommendations for April 5, 2012

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:

According to the previous events, the price of the EUR/USD pair is going to move between the levels of 1.1890 and 1.1740 this week.
Resistance has already set at the level of 1.1956 (minor resistance sets at the level of 1.1890) and support stood at 1.1740.
But currently, support is placed at 1.1813.
So, we expect a range about 150 pips (1.1890 - 1.1740) this week.
Additionally, it should be noted that if the trend is ascending, then the strength of the currency will be defined as follows: EUR is in the uptrend and USD is in the downtrend. The downward trend is still strong so the pair will probably go down.
Therefore, it will be of the insight to sell in this area (1.1740) with the first target at 1.1813, then the price will be able to continue in the downtrend towards 1.1740 in order to try to break the weekly support 3.
On the other hand, the stop losses should be placed above the double top 1.1975.

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.