empty
 
 
08.04.2013 01:16 PM
GbpChf remains unchaged for now. 1.4200 should be minimum target lower

This image is no longer relevant

Technical outlook and chart setups:

A shorter view of 4H chart has been presented here. The structure remains unchanged for now with resistance fixed at 1.4530 level. The prices have carved out an intermediary/lower high at 1.4470, since then the pair has been trading in a range. Immediate resistance is 1.4400 for now. A break higher would enforce prices to move towards 1.45 again. As it was suggested last week, it is still recommended to remain short, looking into the overall bearish structure. 1.4530 remains key for a possible bullish reversal; till that time, prices should be heading south. Intermediary support levels are 1.4200, followed by 1.4030 and below 1.4. Remain short for now.

Trading recommendations:

Remain short for now, stop is at 1.4530, target at least 1.42 and below 1.4.

Good luck!

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback