empty
 
 

22.11.201109:49 Forex Analysis & Reviews: GOLD Intraday Technical Analysis November 22, 2011

Long-term review

Exchange Rates 22.11.2011 analysis

Technical outlook and chart setups:

1. The GBP/CHF looks to pullback from current levels of 1.4800/20 before rallying higher towards 1.4860/70 and 1.4950/60, respectively. The minimum expectations of expected pullbacks are around 1.4700/50 levels. Recommendations are to remain flat for now and enter again at those levels. Only a break below 1.4700 and 1.4650 could be a reason to worry for bulls.

2. Supports are seen at 1.4650 (intermediary) followed by 1.4450 (intermediary), 1.450, 1.4200 and lower, while resistance is at 1.4850/60 (intermediary) followed by 1.4960 and 1.5120, respectively.

3. The structure indicates that GBP/CHF could rally further towards 1.4950 levels but after a small pullback towards 1.4700/50. Till the time 1.4650/40 levels remain intact, bulls shall remain in control.

Trading recommendations:

Remain flat for now, look to buy lower ahead of 1.4650.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Mohamed Samy,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
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.




  • Trade Wise, Win Devise
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    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
Can't speak right now?
Ask your question in the chat.