empty
 
 
29.05.2013 01:38 PM
GbpChf bears on track. 1.47 imediate resistance. Remain short

This image is no longer relevant

Technical outlook and chart setups:

The single currency pair remains very much on track to reverse on the lower side; as we have been discussing lately. Last week, the pair had tested and reacted with bearish signal confirmation on the sloping downtrend line as seen here. Immediate resistance is 1.48, followed by major resistance at 1.5 and 1.51 respectively. Another potential resistance under formation is 1.47 levels for now. On the other side, support is at 1.44, followed by 1.4075 and lower. It is highly recommended to remain short from earlier, and add further short positions as well. The overall wave structure remains bearish and a trend line and reversal has re-confirmed the same last week. Looking for lows near 1.4 in coming sessions.

Trading recommendations:

Remain short, stop is above 1.48, and target is open.

Good luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback