USDCHF – Will the bears fight back? December 2nd 2014

USDCHF – Will the bears fight back? December 2nd 2014

Written by: PaxForex analytics dept - Tuesday, 02 December 2014 0 comments


Should price action for the USDCHF remain inside the 0.9675 to 0.9700 zone the following trade set-up is recommended:

  • Timeframe: H1
  • Recommendation: Short Position
  • Entry Level: Short Position @ 0.9680
  • Take Profit Zone: 0.9590 – 0.9600
  • Stop Loss Level: 0.9750

Should price action for the USDCHF breakdown below 0.9675 the following trade set-up is recommended:

  • Timeframe: H1
  • Recommendation: Short Position
  • Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
  • Take Profit Zone: 0.9590 – 0.9600
  • Stop Loss Level: 0.9750

Should price action for the USDCHF breakout above 0.9700 the following trade set-up is recommended:

  • Timeframe: H1
  • Recommendation: Long Position
  • Entry Level: Long Position @ 0.9720
  • Take Profit Zone: 0.9770 – 0.9800
  • Stop Loss Level: 0.9675

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