Technical analysis of USD/CHF for October 12, 2017
October 12, 2017 12:23 pmVideo
Latest News
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
- EUR/USD: trading tips for beginners for European session on April 17 April 17, 2024
- Market Comment – Geopolitics and Fedspeak keep stocks under pressure April 17, 2024
- Technical Analysis – USDJPY on the verge of hitting 155.00 milestone April 17, 2024
- Hot forecast for EUR/USD on April 17, 2024 April 17, 2024
- Overview for the GBP/USD pair on April 17th. British inflation could weigh on the pound April 17, 2024
- Technical Analysis – NZDUSD bounces off 5-month low April 17, 2024
- Overview for the EUR/USD pair on April 17th. There is no single reason for the euro to rise April 17, 2024
- Key events on April 17: fundamental analysis for beginners April 17, 2024
- Trading plan for GBP/USD on April 17. Simple tips for beginners April 17, 2024
- Trading plan for EUR/USD on April 17. Simple tips for beginners April 17, 2024
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
- Forecast for EUR/USD on April 17, 2024 April 17, 2024
- Forecast for GBP/USD on April 17, 2024 April 17, 2024
- Forecast for USD/JPY on April 17, 2024 April 17, 2024
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
Overview:
The Relative Strength Index (RSI) is considered overbought because it is above 30. The RSI is still signaling that the trend is upward as it is still strong above the moving average (100).
This suggests the pair will probably go up in coming hours.
Accordingly, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 0.9708 with the first target at the level of 0.9772.
From this point, the pair is likely to begin an ascending movement to the point of 0.9816 and further to the level of 0.9836.
The level of 0.9816 will act as strong resistance and the double top is already set at the point of 0.9836.
On the other hand, if a breakout happens at the support level of 0.9700, then this scenario may become invalidated.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: