Source: PaxForex Premium Analytics Portal, Technical Insight
The USD/CHF currency pair is trading at the level of 0.9097 and keeps moving within the correction and formation of the Triangle pattern. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. It indicates a bearish trend for the pair Dollar Franc.
USD/CHF, 30 min
Pivot: 0.9086
Analysis:
Provided that the currency pair is traded below 0.9115, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 0.9086
- Take Profit 1: 0.9075
- Take Profit 2: 0.9060
Alternative scenario:
In case of breakout of the level 0.9115, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 0.9115
- Take Profit 1: 0.9140
- Take Profit 2: 0.9160
Comment:
RSI shows the possibility of a descending momentum.
Key levels:
Resistance | Support |
0.9160 | 0.9075 |
0.9140 | 0.9060 |
0.9115 | 0.9045 |
USD/CHF, D1
Pivot: 0.9138
Analysis:
While the price is below 0.9355, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 0.9138
- Take Profit 1: 0.9040
- Take Profit 2: 0.8940
Alternative scenario:
If the level 0.9355 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 0.9355
- Take Profit 1: 0.9465
- Take Profit 2: 0.9530
Comment:
RSI shows the development of a downtrend in the medium-term.
Key levels:
Resistance | Support |
0.9530 | 0.9040 |
0.9465 | 0.8940 |
0.9355 | 0.8860 |