SuperForex - Analytics

    SuperForex

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    USD/CHF Technical Analysis & Daily Chart Latest Analytics Our Advantages

    General Analysis
    After a significant downward movement from 0.9950 to 0.9580 at the moment the Swiss franc has stopped its decline and is now moving sideways without a high volatility (within the day). This is generally quite typical for this currency.

    Daily Chart
    Throughout the week the price of the Swiss franc was near the resistance level at 0.9670 and repeatedly attempted to break through this level - in vain. The last four candles on the daily chart have very small bodies, which shows the weakness of the bulls. In the near future we can expect the upward movement to resume.

    The Next Few Days
    The Fibonacci level drawn from the start of the downward movement demonstrates that the price has beaten off from the correction level 23.6%. It is now located close to the correction level and continues to decline.
    The presence of the resistance level 0.9670 near the price and the nature of the franc's movement over the past two weeks provide a significant sell signal.

    You may open short positions right now with the target of profit taking (T/P) at 0.9480 and the S/L order at 0.9690.

     


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