Technical analysis of USD/CHF for December 27, 2013
December 27, 2013 6:15 am
Overview:
As expected, the USD/CHF pair could not break the major resistance 1 at the 0.8990 level, therefore the pair has rebounded on its resistance 1 and should to resume to 0.8910 in order to test the 50% Fibonacci retracement levels because the market will indicates a bearish opportunity at the level of 0.8905 but if the price will be able to break this level easily then the market will know a bearish day for that it will very profitable to continue sell below the first support (0.8905). Take profit should be placed above the support 2 at the price of 1.8855. On the contrary, if the market will be able to break the value of 100% Fibonacci Retracement levels (at the 0.9005 level), then the best location for placing a stop loss should be above 0.9035 (resistance 2 on 27/12/2013).
The material has been provided by InstaForex Company – www.instaforex.com
The material has been provided by InstaForex Company – www.instaforex.com
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