USDCHF November 18th 2014 – Bears are Defending Resistance

USDCHF November 18th 2014 – Bears are Defending Resistance

Written by: PaxForex analytics dept - Tuesday, 18 November 2014 0 comments


Should price action for the USDCHF remain inside the 0.9600 to 0.9650 zone the following trade set-up is recommended:

  • Timeframe: D1
  • Recommendation: Short Position
  • Entry Level: Short Position @ 0.9630
  • Take Profit Zone: 0.8800 – 0.8900
  • Stop Loss Level: 0.9800

Should price action for the USDCHF breakdown below 0.9600 the following trade set-up is recommended:

  • Timeframe: D1
  • Recommendation: Short Position
  • Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
  • Take Profit Zone: 0.8800 – 0.8900
  • Stop Loss Level: 0.9800

Should price action for the USDCHF breakout above 0.9650 the following trade set-up is recommended:

  • Timeframe: D1
  • Recommendation: Long Position
  • Entry Level: Long Position @ 0.9675
  • Take Profit Zone: 0.9775 – 0.9800
  • Stop Loss Level: 0.9600

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.