On the H4 chart, a correction of the downward movement is observed, the instrument is growing towards the upper border of Bollinger Bands; the indicator cloud is narrowing, the formation of a lateral trend is likely in the short term. MACD histogram is in the negative zone keeping a signal for the opening of sell positions. Stochastic is in the neutral zone showing lateral movement and does not give a clear signal for entering the market.
Resistance levels: 0.8830, 0.8850, 0.8870, 0.8900, 0.8920, 0.8940.
Support levels: 0.8785, 0.8760, 0.8730, 0.8700.
According to the technical indicators, short positions can be opened from 0.8780 with the target at 0.8730 and stop-loss at 0.8810. Implementation time: 1-3 days.
Long positions may be opened from 0.8850 with the target at 0.8900 and stop-loss at 0.8820.
US Dollar to Swiss Franc
Buy Sell Spread
0.88394 0.8837 24
Scenario: Timeframe Day’s Range
Recommendations SELL STOP
Entry Point 0.8780
Take Profit 0.8730
Stop Loss 0.8810
Support levels 0.8700, 0.8730, 0.8760, 0.8785, 0.8830, 0.8850, 0.8870, 0.8900, 0.8920, 0.8940
Recommendations BUY STOP
Entry Point 0.8850
Take Profit 0.8900
Stop Loss 0.8820
Support levels: 0.8700, 0.8730, 0.8760, 0.8785, 0.8830, 0.8850, 0.8870, 0.8900, 0.8920, 0.8940
An upward correction is also observed on the D1 chart, the instrument is trading near the midline of Bollinger Bands; the indicator cloud is narrowed, showing the likely formation of a lateral trend in the medium term. MACD histogram is in the negative zone keeping stable volumes and a confident signal for the opening of short positions. Stochastic is located on the border of the neutral and oversold zones, the oscillator’s lines are directed horizontally.