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USD/CHF: Upward trend continues on 02.03.2016

Since the beginning of this week the pair USD/CHF has traded between support level of 0.9960 (ЕМА50 on the daily chart and ЕМА200 on 4-hour chart) and resistance level of 1.0000, which can be considered psychologically important level

On all chart from hourly to weekly the price is above the key support level of ЕМА200.

On the daily chart the indicators OsMA and Stochastic give signals to buy; 4-hour chart does not give clear signals and it seems that the pair will be in flat. Breakout of the levels of 0.9960 and 1.0000 to either direction will determine short-term movement of price.

In the medium-term the price is above support levels 0.9880 (ЕМА144) and 0.9820 (ЕМА200 on the daily chart), showing that long positions are preferable.

Support levels: 0.9960, 0.9900, 0.9880 and 0.9820.
Resistance levels: 1.0000, 1.0125, 1.0195, 1.0200 and 1.0260.

Trading tips


Buy Stop: 1.0040.
Stop-Loss: 0.9980.
Targets: 1.0100, 1.0125, 1.0195 and 1.0260.

Sell Stop: 0.9940.
Stop-Loss: 0.9980.
Targets: 0.9900, 0.9880 and 0.9820.




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