empty
 
 
11.01.2013 11:04 AM
GbpChf Showing Signs Of Bullish Bounce. It Is Recommended To Cover Short Positions Now

This image is no longer relevant

Technical Outlook and Chart Setups:

The structure remains unchanged from what we discussed yesterday. The prices have moved towards lower side and bounced back sharply from 1.4720/25 levels. Looking at the overall wave structure, the prices seem to be heading south, but a bounce remains a possibility before that. It is recommended to book profits on short positions taken earlier and wait for another opportunity. Intermediary support is at 1.4670, while resistance is at 1.4950/60. It is not a good idea to turn aggressively bullish till resistance at 1.5050/60 remains intact. Remain flat for now.

Trading Recommendations:

Take profits on short positions taken earlier now. Remain flat.

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