Source: PaxForex Premium Analytics Portal, Technical Insight
During the continuing speech, the president of the Chicago Fed Reserve Bank C. Evans almost verbatim repeated the well-known statement of Fed chairman J. Powell: It's too early to even begin discussing the need to discuss the rollback of QE.
USD/CHF, 30 min
Pivot: 0.9291
Analysis:
Provided that the currency pair is traded below 0.9310, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9291
- Take Profit 1: 0.9270
- Take Profit 2: 0.9245
Alternative scenario:
In case of breakout of the level 0.9310, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9310
- Take Profit 1: 0.9335
- Take Profit 2: 0.9365
Comment:
RSI shows the possibility of descending momentum.
Key levels:
Resistance | Support |
0.9365 | 0.9270 |
0.9335 | 0.9245 |
0.9310 | 0.9220 |
USD/CHF, D1
Pivot: 0.9294
Analysis:
While the price is above 0.9210, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9294
- Take Profit 1: 0.9480
- Take Profit 2: 0.9600
Alternative scenario:
If the level 0.9210 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9210
- Take Profit 1: 0.9110
- Take Profit 2: 0.9020
Comment:
RSI shows the development of an uptrend in the medium-term.
Key levels:
Resistance | Support |
0.9700 | 0.9210 |
0.9600 | 0.9110 |
0.9480 | 0.9020 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD - buy above 1.1855 with 1.1910 and 1.1930 targets as Take Profit. Alternative scenario - if the level 1.1855 is broken-down, sell with the TP 1.1835 and 1.1820.
GBP/USD – buy above 1.3730 with 1.3800 and 1.3835 as Take Profit targets. Alternative scenario - if the level of 1.3730 is broken-down, you should consider selling with the targets 1.3710 and 1.3690 as Take Profit.
AUD/USD - long positions above 0.7600 with 0.7660 and 0.7675 targets as Take Profit. Alternative scenario - if the level of 0.7600 is broken-down, sell with the targets 0.7585 and 0.7570 as Take Profit.