Trading recommendations :
- According to the previous events, the USD/CHF pair has still been moving between 0.8873 and 0.8993. So we expect a large range about 93 pips in the future. The breakout seen at the ratio of 100% Fibonacci retracement level (the double top in H1 chart) for that the key level is set at the level of 0.8872 because it is representing strong support and it is coinciding with the 100% Fibonacci retracement level. As it is known, history will probably repeat itself at this level again. Therefore, it will a good sign to buy above 0.8872 with the first target of 0.8955. It will call for uptrend in order to continue its bullish movement towards 0.8982.
- On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the double top at the price of 0.8850.
Notes :
- Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CHF for May 15, 2014 . Thanks for your support on Technical analysis of USD/CHF for May 15, 2014
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