Technical outlook and chart setups:
The single currency pair was expected to begin retracement lower, as discussed earlier. On shorter time frames, it looks like the pair is ready to take support from lower levels (around 1.4270/75), before the next bull run begins. Intermediary support is at the 1.4200 level, which is also at the rising trend line, followed by 1.4075 and lower; while immediate resistance is at the 1.4800 level, followed by 1.5. It is recommended to remain long for now and add further positions after dips around the 1.4270/75 mark. Bottomline: Look higher after retracement levels, till the 1.4200 level is intact.
Trading recommendations:
Remain long for now, stop below 1.4200, target open.
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 rally to continue; 1.4270/75 is support . Thanks for your support on GBP/CHF rally to continue; 1.4270/75 is support
No comments:
Post a Comment