Technical outlook and chart setups:
As depicted in the 4H chart, the currency pair is drifting South below the 1.42 mark, but it is yet to register fresh lows. As shown, 1.4350 is immediate resistance, followed by 1.4500, while intermediary support is in the 1.4150/70 region. It is recommended to hold on to short positions taken earlier and also reduce risk. A breakdown of 1.4170 would push prices rapidly towards 1.3900 and 1.3800 levels respectively.
Trading recommendations:
Hold on to short positions taken earlier, reduce Risk/Move stop lower to 1.4350, target 1.3900/1.3800.
Good Luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via GBP/CHF: move down risk to 1.4350 on short positions . Thanks for your support on GBP/CHF: move down risk to 1.4350 on short positions
No comments:
Post a Comment