Sep 14, 2020, 10:26:21 AM
USD/CHF: technical analysis
USD/CHF, H4
A downtrend is forming on the 4-hour chart. The instrument returned to a decline after a short-term correction and is trading between the middle line and the lower border of Bollinger bands, the indicator cloud has expanded, and the downward trend is likely to continue in the short term. The MACD histogram is in the negative zone, the signal line crosses the body of the histogram downwards, forming a signal to open sell orders. Stochastic is in the neutral zone, the oscillator lines are directed horizontally, without forming a definite signal to enter the market.
USD/CHF, D1
A sideways trend is forming on the daily chart. The instrument is consolidating in the area of the middle line of Bollinger Bands, the indicator cloud is narrowed, the sideways movement is likely to persist in the medium term. The MACD histogram is in the negative area, gradually reducing volumes, the signal line reversed upwards, the sell signal is losing its relevance. Stochastic is in the neutral zone, the oscillator lines are directed downward, the signal to open long positions remains.
Key levels
Resistance levels: 0.9100, 0.9120, 0.9140, 0.9160, 0.9180, 0.9200.
Support levels: 0.9070, 0.9050, 0.9025, 0.9010.
Trading tips
Short positions may be opened in the short term from the level of 0.9070 with the target at 0.9025. Stop loss is 0.9100.
Long positions may be opened from the level of 0.9130 with the target at 0.9180 and stop loss 0.9100.
Implementation period: 1–3 days.
Scenario
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Timeframe
Intraday
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Recommendation
SELL STOP
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Entry Point
0.9070
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Take Profit
0.9025
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Stop Loss
0.9100
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Key Levels
0.9010, 0.9025, 0.9050, 0.9070, 0.9100, 0.9120, 0.9140, 0.9160, 0.9180, 0.9200
Alternative scenario
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Timeframe
Intraday
-
Recommendation
BUY STOP
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Entry Point
0.9130
-
Take Profit
0.9180
-
Stop Loss
0.9100
-
Key Levels
0.9010, 0.9025, 0.9050, 0.9070, 0.9100, 0.9120, 0.9140, 0.9160, 0.9180, 0.9200
