Trading recommendations :
- According to the previous events, the price of the USD/CHF pair has still been trapped between 0.8863 and 0.9006. The resistance has already set at the level of 0.9006 and the support stands at the level of 0.8863. Hence, we expect a range of 143 pips this week. Additionally, it should be noted that if the trend is ascending, then the strength of the currency will be defined as following: USD is in uptrend and CHF is in downtrend. Therefore, it will be of the insight to sell in this area (0.9006) with the first target at 0.8950 in order to try to break the weekly pivot point. Then, the price will be able to continue in downtrend towards 0.8863 (at the level of 0.8863, a double bottom is going to be formed in H4 chart). On the other hand, the stop losses should be placed above 0.9053.
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 July 8, 2014 . Thanks for your support on Technical analysis of USD/CHF for July 8, 2014
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