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    USD/CHF: the pair is likely to rise on 19.02.2016

    This week the pair USD/CHF has regained the losses of the previous week, which were caused by the speech of Janet Yellen, the head of the US Fed. Mrs. Yellen did not give any indications that interest rate in the USA would be raised at the meeting in March.

    However, this week the pair can regain and go back to the uptrend. Note that it happens despite Wednesdays’ minutes of the FOMC meeting, indicating that some FOMC members believe that interest rate should not be raised when inflation expectations in the USA decline and financial market remain unstable.

    The price has found support at the level of 0.9750 (ЕМА50 on the weekly chart) and exceeded key support levels of 0.9800 (ЕМА200) and 0.9870 (ЕМА144 on the daily chart).

    On the daily chart the indicators OsMA and Stochastic give buy signals. The rise in the pair can continue if the price breaks down resistance level of 0.9960 (ЕМА50 on the daily chart and ЕМА200 on 4-hour chart) and 1.1000.

    As an alternative scenario the pair can break down support level of 0.9800 (ЕМА200) and go down to the bottom limit of the downward channel at the level of 0.9665 (February lows) on the daily chart.

    Support levels: 0.9870, 0.9800, 0.9750, 0.9665 and 0.9575.
    Resistance levels: 0.9960, 1.0000, 1.0125, 1.0195, 1.0200 and 1.0260.

    Trading tips

    Sell Stop 0.9890.
    Stop-Loss 0.9930.

    Targets 0.9870, 0.9800, 0.9750, 0.9665.

    Buy Stop 0.9970.
    Stop-Loss 0.9930.
    Targets 1.0000, 1.0100, 1.0125, 1.0195, 1.0260.

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