empty
 
 
15.04.2013 02:00 PM
GbpChf bounces lower just ahead of 1.4380

This image is no longer relevant

Technical outlook and chart setups:

The single currency pair has reversed ahead of 1.4380, which was the measured extension, as discussed on Friday. Furthermore, fresh lows have been printed just ahead of 1.4200. It is recommended now to get in the direction of trend and initiate fresh short positions now. As depicted here, the intermediary levels of resistances are lined up from 1.4340/50, followed by 1.4400 and 1.4480 respectively, while strong resistance is at 1.4530 level. Supports are spread across 1.42 level, followed by 1.4030 and 1.4 respectively. Sell intraday rallies from here. Looking lower from here on.

Trading recommendations:

Initiate short positions now, stop is at 1.4500, and targets are at 1.38/1.37.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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