Overview :
- The resistance has broken at the level of 0.8766. Moreover, the level of 0.8766 is going to become support on March 20, 2014. So, according to previous events, the price of the USD/CHF pair has still been moving between the price of 0.8773 and the 0.8803 price. Additionally, the psychological level has set at the 0.8870 price because it is representing a strong resistance. Also, the double top will set at the 0.8894 price. Therefore, it will of the wisdom to buy above the price of 0.8766 with target at 0.8870 this week. Equally important, the price of the USD/CHF pair is going to try break the weekly pivot point to call for the bullish market above 0.8766. Hence, the price will be continued towards the double top. On the other hand, the stop loss should always be in account, so it will be of the wisdom to set your stop loss at the 0.8744 price.
The material has been provided by InstaForex Company - www.instaforex.com
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