Weekly technical levels of USD/CHF for February 11-14, 2014

Weekly technical levels:

Trading recommendations:

• According to the previous events, the price of the USD/CHF pair has still been trapped between 0.8960 and 0.9005. As it is known, if the trend is upward, then the strength of the currency pair will be defined as following: USD is in uptrend and CHF is in downtrend.
• Consequently, we expect that the trend is going to call for a bearish market at the level of 0.9020 in H1 chart. Additionally, it should be noted that the range today will be about 90 pips. Thereupon, sell at the price of 0.9020 with the first target of 0.8975, it might resume to 0.8932 in order to test the weekly support 1 on February 11, 2014. At the same time, the stop loss should never exceed your maximum exposure amounts. Accordingly, your stop loss should be placed above the 0.9055 level.

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