empty
 
 
11.06.2013 01:10 PM
GbpChf again testing 1.44. Sell a break here

This image is no longer relevant

Technical outlook and chart setups:

The single currency pair has been swinging between 1.44 and 1.45/1.46 lately. Today is yet another leg down towards 1.44. It is recommended to hold long as long as prices stay above 1.44 here, which is immediate support. A break of 1.4350 level should be sold as it would technically indicate a probable large swing lower. Supports are spread through 1.4075, 1.4 and lower. On the flip side if 1.44 holds again, long positions can be held and fresh positions could be added as well. 1.46/1.47 are immediate intermediary resistances, while 1.5 is major. Current trading range between 1.44 and 1.46 should be broken in order to get further clarification of the next move.

Trading recommendations:

Hold on to long positions for now, stop is at 1.4350, stop reverse on a break.

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