empty
 
 
28.11.2012 09:12 AM
GBPCHF Tests and Holds 1.4800 Levels; Risk/Reward Ratio Good To Go Long

This image is no longer relevant

Technical Outlook and Chart Setups:

The single currency pair seems to have tested the low at 1.4800 level during the last 2 sessions and managed to produce a morning star. It is recommended to go long at the moment, as the currency pair looks to be initiating a bounce towards 1.5200-1.5300 levels in the near term. Furthermore, the bullish signal has been produced at the 0.786 Finonacci retracement level of the entire upswing from 1.4800 to 1.5148. Support would be strong now at 1.4800, followed by 1.4700, while intermediary resistance is still at 1.5050, followed by 1.5150/60 respectively. Looking higher for now.

Trading Recommendations:

Go long now (1.4903), stop at 1.4800, target open.

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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