For Traders

Analytical Reviews

Technical analysis

05.09.201706:59 Forex Analysis & Reviews: Technical analysis of USD/CHF for September 05, 2017

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:

The USD/CHF pair bullish trend from the support levels of 0.9558. Currently, the price is in a bullish channel and the price is seen at the 0.9558 level. The USD/CHF pair probably continues to move upwards from the level of 0.9558. Yesterday, the pair rose from the level of 0.9558 to a top around 0.9670. Today, the first resistance level is seen at 0.9693 followed by 0.9725, while daily support 1 is seen at 0.9558 (38.2% Fibonacci retracement). According to the previous events, the USD/CHF pair is still moving between the levels of 0.9639 and 0.9725; so we expect a range of 86 pips. Furthermore, if the trend is able to break out through the first resistance level at 0.9693. Therefore, buy above the level of 0.9558 with the first target at 0.9693 in order to test the daily resistance 1 and further to 0.9725. Also, it might be noted that the level of 0.9725 is a good place to take profit because it will form a major resistance today. On the other hand, if a breakout takes place at the support level of 0.9558, then this scenario may become invalidated.

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.