Weekly technical levels:
Trading recommendations:
USD/CHF: According to the previous events, the price of the USD/CHF pair is still between the levels of 0.9380 and 0.9345. Moreover, it should be noted that the market was so stable and the trend was also too clear (downward), as well as the range was around 144 pips last week. Additionally, the value of 100% Fibonacci retracement levels is 0.9455 (double top). The key level of 0.9423 is presented for downtrend to confirm a bearish market. Therefore, sell deals are recommended below the 0.9423 level with targets at 0.9345 in order to form a double bottom at this level, and it will resume towards 0.9306 to test the weekly support 1 at 0.9306 for September 9, 2013.
