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Technical analysis of USD/CHF for November 10, 2015

USDCHFDaily.png

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Trading recommendations:

  • According to the previous events, the USD/CHF pair is still been moving between 0.9975 and 1.0110. .
  • The level of 0.9975 has formed a double bottom in the daily chart.
  • Moreover, the level of 1.0010 represents the weekly pivot point.
  • So, buy at the level of 0.9975 with the first target at 1.0066. Then it will call for an uptrend in order to continue its bullish movement towards 1.0110 to test the weekly resistance 1.
  • At the same time, the stop loss should be placed at the level of 0.9950.
  • The level of 0.9975 has formed a double bottom in the daily chart.
  • Moreover, the level of 1.0010 represents the weekly pivot point.
  • So, buy at the level of 0.9975 with the first target at 1.0066. Then it will call for an uptrend in order to continue its bullish movement towards 1.0110 to test the weekly resistance 1.
  • At the same time, the stop loss should be placed at the level of 0.9950.
  • Notes:

    • We expect a range of 135 pips in coming days.
    • The value of 78.6% Fibonacci retracement is 0.9975 which represents the daily support.
    • Also, it should note that 0.9975 will confirm the bullish market.
    • Volatility: 140 (as a rule, the market is highly volatile if the last day had a huge volatility).
  • The value of 78.6% Fibonacci retracement is 0.9975 which represents the daily support.
  • Also, it should note that 0.9975 will confirm the bullish market.
  • Volatility: 140 (as a rule, the market is highly volatile if the last day had a huge volatility).

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