Daily chart
After a slow below 20 pips, USD/CHF closed yesterday's session below its opening but could not get past the line of 3/8 (green line) which is located at 0.9155. At this time it is 20 pips of the line with a slight upward trend. However, we can expect the uptrend line to continue as it is good to be the basis of its trading range. On the contrary, if the daily close below 0.9155 is observed, it would invalidate this scenario.
4-hour chart
In the 4-hour chart we can see the USD/CHF pair failed to advance beyond the line 7/8 (yellow line) and until today has moved within that range. It seems that this week we will continue to see similar lateral movements until the price will be below 0.9155 or above 0.9216.
1-hour chart
Finally on the 1-hour chart we can see that during Tuesday's session the USD/CHF pair arrived to a minimum at 0.9154, where the line 0/8 (solid line) and since it is considered as a last line of support, the price immediately retreated and continued its upward trend to settle at this time of day on the line eighth making this turn into slight support to consider. In view of the slow movements this week, at the moment we do not see a clear opportunity and hope that by the end of the day we will have a clearer picture.
Our preference is to get up buying 0.9171 with a stop loss at 0.9140.
If you have any questions or suggestions, please contact:
Email:antonio.inga@analytics.instaforex.com
DISCLAIMER
No information published constitutes a solicitation, offer, or recommendation, to buy or sell any investment instrument, to effect any transactions, or to conclude any legal act, whatever its nature.
The information published and opinions expressed are provided on an only for information only and is subject to change without notice, delimiting the company responsibility for decisions originating from the same, and they cause any kind of profit, loss or damage.
