28.08.201811:12 Forex Analysis & Reviews: Technical analysis of USD/CHF for August 28, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Overview:

Pivot: 0.9790.

The USD/CHF pair fell sharply from the level of 0.9815 towards 0.9764. Now, the price is set at 0.9770. The resistance is seen at the level of 0.9815 and 0.9847. Moreover, the price area of 0.9815/0.9847 remains a significant resistance zone.

Therefore, there is a possibility that the USD/CHF pair will move downside and the structure of a fall does not look corrective. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside.

Thus, amid the previous events, the price is still moving between the levels of 0.9790 and 0.9719. If the USD/CHF pair fails to break through the pivot point level of 0.9790, the market will decline further to 0.9719 as as the first target.

This would suggest a bearish market because the RSI indicator is still in a negative spot and does not show any trend-reversal signs. The pair is expected to drop lower towards at least 0.9686 in order to test the daily support 3. On the contrary, if a breakout takes place at the resistance level of 0.9847, then this scenario may become invalidated.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.