Intraday trading recommendations:
- According to the previous events, the price of USD/CHF is still trapped between the levels of 0.9770 and 0.9705. The level of 0.9770 will indicate strong resistance. Moreover, the price will form a double top at this level, therefore, it will be wise to sell at 0.9770 (short term) with the first target at 0.9732 (61.8% Fibonacci retracement levels). Then it will continue towards 0.9705 and 0.9679 in order to test the weekly support 1.
Observations (intraday):
- Projected high: 0.9770
- We expect a range of 198 pips this week.
- Projected low: 0.9679
Weekly technical levels:
Date and Time: 9/12/2014 13:12
Pair: USD/CHF
- Projected High: 0.9981
- Breakout (Buy Stop): 0.9926
- Strong Resistance (Sell Limit): 0.9896
- Current Pivot: 0.9778
- Strong Support (Buy Limit): 0.9659
- Breakout (Sell Stop): 0.9634
- Projected Low: 0.9584
