empty
 
 
27.01.2014 12:22 AM
Weekly technical levels of USD/CHF for January 27-31, 2014

Weekly technical levels:

This image is no longer relevant

This image is no longer relevant


Forecast for the short term:

  • According to the previous events, the price of USD/CHF pair has still been trapping between 0.9000 and 0.8845.
  • Buy above 0.8845 with the first target of 0.8903, it might resume to 0.9 if the trend will be able to break the double bottom at the level of 0.8903.
  • Stop loss should never exceed your maximum exposure amounts. therefore, stop loss should be placed below the 0.8823 level.
  • If the trend is upward, then the strength of the currency pair will be defined as following: USD is in uptrend and CHF is in downtrend.
  • Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account. Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy for a long term in this period, you will surely lose your profit.
  • As a rule, the market is highly volatile if the last day had a huge volatility.
Summary
Urgency
Analytic
Mourad El Keddani
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