Technical analysis of USD/CHF for April 22, 2014
April 22, 2014 3:40 pmVideo
Latest News
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
- EUR/USD: trading tips for beginners for European session on May 24 May 24, 2024
- Market Comment – Sentiment sours after strong US PMIs; stocks slip, dollar climbs May 24, 2024
- Technical Analysis – AUDUSD outlook turns neutral again May 24, 2024
- EUR/USD and GBP/USD: Technical analysis on May 24 May 24, 2024
- Trading plan for GBP/USD on May 24. Simple tips for beginners May 24, 2024
- Technical Analysis – WTI crude oil opens the way for bearish actions May 24, 2024
- Could developments in Iran and Saudi Arabia turn the tide for oil? – Special Report May 24, 2024
- Forecast for EUR/USD on May 24, 2024 May 24, 2024
- Forecast for GBP/USD on May 24, 2024 May 24, 2024
- Forecast for AUD/USD on May 24, 2024 May 24, 2024
- The yen may have already executed a long-term reversal. Overview of USD/JPY May 24, 2024
Overview:
USD/CHF is expected to trade in higher range. It is supported by the positive dollar sentiment, dovish Swiss National Bank’s monetary policy stance and franc sales on buoyant EUR/CHF cross. But the USD/CHF gains are tempered by the franc demand on buoyant CHF/JPY cross. Daily chart is positive-biased as MACD and stochastics is bullish; five-day moving average is rising above 15-day MA.
Trading recommendation:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 0.8875 and the second target at 0.89. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8825. A breach of this target will push the pair further downwards and one may expect the second target at 0.8790. The pivot point is at 0.8830.
Resistance levels:
0.8875
0.89
0.8925
Support levels:
0.8815
0.8790
0.8750
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: