empty
 
 
13.09.2017 01:08 PM
Technical analysis of USD/CHF for September 13, 2017

This image is no longer relevant

Our initial target in our previous analysis has been hit. USD/CHF is expected to continue the upside movement. The pair recorded higher tops and higher bottoms since September 8, which confirmed a positive outlook. The rising 50-period moving average suggests that the prices have potential for a further upside. The relative strength index lacks downward momentum.

US dollar gained modestly yesterday after its biggest downward rally in nearly eight months as investors are waiting for important data due to announced today.

Investors are also waiting for US inflation data due to be announced today at 12:30 GMT, it is expected that the producer price index will have increased to 0.3% in August against the -0.1% in July and Core PPI is expected to come out at 0.2% as compared to -0.1% previously.

Therefore, as long as 0.9570 is support, expect a new challenge to 0.9630 and even to 0.9655 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot points indicates a short position. The red lines show the support levels and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 0.9570, Take Profit: 0.9630

Resistance levels: 0.9630, 0.9655, and 0.9700

Support levels: 0.9545, 0.9510, and 0.9460

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 $8000 more!
    In March we raffle $8000 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
  • 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback