Technical analysis of USD/CHF for February 2, 2018 888011000 110888 Summary: The USD/CHF pair is still selling downwards from the area of 0.9377/ 0.9333. The price of 0.9377 represents the first resistance on the H1 chart. The set fell from the levels of 0.9377 and 0.9333 down around 0.9393. Today, the very first resistance level is seen at 0.9333 and 0.9377 followed by 0.9432, while everyday assistance is seen at the levels of 0.9289 and 0.9230. According to the previous events, the USD/CHF pair is still trapping in between the levels of 0.9333 and 0.9230. For this reason, we anticipate a variety of 147 pips in the coming hours. The very first resistance stands at 0.6790, for that if the USD/CHF set cannot break through the resistance level of 0.9377, the market will decrease further to 0.9289. Because the RSI indicator is still in a negative location and does not reveal any trend-reversal signs, this would suggest a bearish market. The pair is anticipated to drop lower to at least 0.9230 in order to evaluate the second assistance (0.9230). On the other hand, if a breakout takes place at the resistance level of 0.9377, then this scenario may end up being revoked. Likewise, it should be kept in mind that the stop loss need to be put above the area of 0.9380. The material has been offered by InstaForex Company

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