Technical analysis of USD/CHF for October 05, 2018 888011000 110888 < img width ="450"src =”http://qkfx.com/wp-content/uploads/2018/10/technical-analysis-of-usd-chf-for-october-05-2018.png”alt= “analytics5bb74540c7d05.png”/ > Introduction: Pivot: 0.9870 The USD/CHF set continues to move upwards from the level of 0.9809. The set increased from the level of 0.9809 to a leading around 0.9865. Today, the very first resistance level is seen at 0.9865 followed by 0.9922, while everyday support 1 is seen at 0.9743(61.8 %Fibonacci retracement). According to the previous occasions, the USD/CHF set is still moving in between the levels of 0.9809 and 0.9922; so we expect a variety of 113 pips. In addition, if the trend is able to break out through the very first resistance level at 0.9865, we must see the set climbing towards the 2nd resistance (0.9922)to check it. Therefore, buy above the level of 0.9865 with the very first target at 0.9922 in order to test the daily resistance 2 and further to 0.9963. It might be noted that the level of 0.9963 is an excellent location to take profit due to the fact that it will form a brand-new double top. On the other hand, in case a reversal occurs and the USD/CHF pair breaks through the assistance level of 0.9809 , a more decrease to 0.9743 can occur which would indicate a bearish market.The material has been supplied by InstaForex Business-www.instaforex.com

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