Technical Analytics Report

USD/CHF Technical Analysis 12 Jan 2021

 

USD/CHF, H4

On the H4 chart, a side trend is forming, the instrument is trading near the upper border of Bollinger Bands; the indicator cloud is widened, indicating the likely continuation of growth in the short term. MACD histogram is in the positive area, the signal line crosses the zero mark and the body of the histogram from below, forming a signal to open buy positions. Stochastic crosses the border of the overbought zone from above, forming a signal to open sell orders.

USD/CHF, D1

On the H4 chart, a lateral trend is forming, the instrument is being traded within a narrow corridor formed by the borders of Bollinger Bands; the indicator’s cloud is narrowed, confirming the likely preservation of lateral dynamics in the medium term. MACD histogram is in the negative zone keeping a signal for the opening of short positions. Stochastic is about to cross the border of the overbought area from below after which a signal for the opening of long positions will be formed.

Key levels

Resistance levels: 0.8920, 0.8950, 0.8970.

Support levels: 0.8900, 0.8870, 0.8850, 0.8830, 0.8800, 0.8760.

Trading tips

According to technical indicators, in the short term, long positions could be opened from 0.8920 with the target at 0.8970 and stop-loss at 0.8890. Implementation period: 1–3 days.

Short positions may be opened from 0.8870 with the target at 0.8820 and stop-loss at 0.8900.

US Dollar to Swiss Franc

Buy Sell Spread

0.89001 – 0.88977 24

Scenario

Timeframe Day’s Range

Recommendations BUY STOP

Entry Point 0.8920

Take Profit 0.8970

Stop Loss 0.8890

Support levels 0.8760, 0.8800, 0.8830, 0.8850, 0.8870, 0.8900, 0.8920, 0.8950, 0.8970

Alternative scenario

Recommendations SELL STOP

Entry Point 0.8870

Take Profit 0.8820

Stop Loss 0.8900

Support levels 0.8760, 0.8800, 0.8830, 0.8850, 0.8870, 0.8900, 0.8920, 0.8950, 0.8970

 

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