empty
 
 
03.08.2015 01:20 PM
Technical analysis of USD/CHF for August 3, 2015
This image is no longer relevant

Overview:

  • The USD/CHF pair has already faced the resistance at the level of 0.9716 and the support is seen at the level of 0.9643 in the H1 chart. Hence, we expect a range of 73 pips today. Additionally, it should be noted that if the trend is ascending, the strength of the currency will be defined as following: USD is in an uptrend and CHF is in a downtrend. Therefore, it will be of the insight to buy in this area (0.9643) with the first target at 0.9690 in order to try to break the daily pivot point. Then, the price will be able to continue in downtrend towards 0.9717 (a double bottom will be formed at the level of 0.9718). On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the support of 0.9643 at the level of 0.9630.
This image is no longer relevant
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