27.08.201317:12 Forex Analysis & Reviews: USDCHF: Downside (Aug 27, 2013)

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:
USD/CHF is trading with descending risk. It is undermined by the weaker dollar sentiment; flows to the safe-haven franc on increased expectations of U.S. military action against Syria. Daily chart is mixed as MACD is flat, stochastics is neutral. The inside-day-range pattern was completed on Monday.

Trading recommendation:

The pair is trading below its pivot point. It is likely to trade in a lower range as far as it remains below its pivot point. Short positions are recommended with the first target at 0.9185 in view; a breach of this target will move the pair downwards further and you should expect the second target at 0.916. The pivot point stands at 0.9245. In case the price moves in the opposite direction, returns from its support, and moves above its pivot point, then trading in a higher range is the most favorable and positions buying is recommended above its pivot with the first target at 0.9265 and the second target at 0.929.

Support levels:
S1 - 0.9185
S2 - 0.916
S3 - 0.9125

Resistance levels:
R1 - 0.9265
R2 - 0.929
R3 - 0.9345

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.