Overview :
- The price of USD/CHF pair is still located between levels of 0.9535 and 0.9595, i.e. above the strong support level 0.9492 (61.6% of Fibonacci retracement levels in H4 chart). These levels correspond to 100% and 78.6%% of Fibonacci retracement levels in the H4 chart. The pair has already formed strong resistance at this level of 0.9595 and is currently approaching it for further testing. Therefore, the swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below the 0.9595 level (the double top). Sell-deals are recommended below 0.9595 with the first target seen at the 0.9545 level. Thus downtrend is likely to continue the bearish movement towards the 0.9500 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9492 (61.8% of Fibonacci retracement levels in H4 chart). The saturation is like to take place around 0.9490. Therefore it is possible that the market will start showing the signs of a bullish behaviour from today until next week. In the other word, buy-deals are recommended above 0.9400 with the first target seen at the 0.9550 level and further at the 0.9600 level.
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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of USD/CHF for October 3, 2014 . Thanks for your support.
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