Technical analysis of USD/CHF for February 14, 2014

Trading recommendations:

• According to previous events, the price of the USD/CHF pair has still been moving between the price of 0.8970 and the 0.8880 price.
• Psychological level has set at the 0.9025 price.
• Therefore, sell deals are recommended below the 0.9025 level with targets at the level of 0.8903 in order to form a double bottom at this level in H1 chart. Moreover, the price of the USD/CHF pair is going to try break the weekly pivot point at 0.9006 to call for the bearish market below 0.9006 on February 14, 2014. Hence, the price will be continued towards the level of 0.8840.
• The stop loss should always be in account, so it will of the wisdom to set your stop loss at the 0.9025 price.

Intraday technical levels:

Date and Time: 14/02/2014 09:46

Pair: USD/CHF

• R3: 0.9081
• R2: 0.9045
• R1: 0.8990
• PP: 0.8954
• S1: 0.8899
• S2: 0.8863
• S3: 0.8808

The material has been provided by InstaForex Company – www.instaforex.com