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30.06.2015 12:46 PM
Technical analysis of USD/CHF for June 30, 2015
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Tools of chart:

  • We expect a range of the USD/CHF pair to be about 111 pips in coming days. The market will probably move between 0.9256 and 0.9367.
  • The risk of 74 pips must make a profit of 111 pips.
  • The value of 38.2% Fibonacci retracement levels is 0.9256.
  • The level of 0.9256 will confirm the bullish market because it is representing a strong support on the H1 chart.
  • Volatility on June 30, 2015 is 127.96. As a rule, the market is highly volatile if the last day had a huge volatility.

Technical levels:

  • It should be noted that the price will be moving between 0.9367 and 0.9256 today.
  • Projected high: 0.9395
  • Strong resistance (sell limit): 0.9380. The resistance will be at the price of 0.9380.
  • Current pivot: 0.9300.
  • Breakout (sell stop): 0.9255. The resistance will be at the price of 0.9255.
  • Projected low: 0.9245.

Observations:

  • If the trend is of an upside character, the strength of the currency will be defined as following: USD is an uptrend and CHF is in a 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.
  • Stop loss should never exceed your maximum exposure amounts.
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