Dollar/Swiss Still In Intact Downward Channel
Ruben Cabello | Apr 12, 2016 08:57AM ET
USD/CHF Open 0.9544 High 0.9571 Low 0.9498 Close 0.9539
On Monday dollar/franc decreased with 70 pips. The European currency depreciated from 0.9571 to 0.9501 yesterday, not matching the positive money flow sentiment at almost +2%, closing the day at 0.9539. This morning the dollar descended slightly further against the Swiss franc, reaching 0.9498.
On the 1-hour chart the downward channel has slowed down, while on the 3-hour chart the small angle downward channel looks good. Break above the nearest resistance and yesterday's top at 0.9571 may lead to further lifting of the dollar. Going below today's bottom and first support at 0.9498, however, could diminish the currency pair more, towards next objective downwards 0.9386.
Quotes are moving just above the parallel 20 and 50 EMA on the 1-hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and hesitant, MACD is positive and calm, while CCI has thinly crossed up the 100 line on the 1-hour chart, giving over all light long signals.
Technical resistance levels: 0.9571 0.9677 0.9789
Technical support levels: 0.9498 0.9386 0.9275
Today +45 pips gained on USD/CHF from the following signal:
5:30 GMT+1 Sell USD/CHF at 0.9543 SL 0.9569 TP 0.9493, exit given at 9:03 GMT+1.
Total today +166, as shown at our web site.
Have a great day!
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.