Review:
- The first resistance of USD/CHF pair is projected at the level of 0.9666 today.
- The second resistance has already set at 0.9720. On the other hand, the supports is found at the levels of 0.9493 and 0.9542.
- The area of 0.9493 / 0.9542 is a useful spot to buy in the long term this week with targets at 0.9666 and 0.9720.
- We expect a range of 298 pips this week.
- 99 pips would make a profit of 298 pips.
- The value of 100% Fibonacci retracement levels is: 0.9542 (the double top).
- Volatility: 298.57. As a rule, the market is highly volatile if the last day had a huge volatility.
- The USD/CHF pair pair will probably go up because the upward trend is still strong for that we expect that the trend for bullish market.
Weekly technical levels:
Date: 20/07/2015
Pair: USD/CHF
- Resistance 2: 0.9720
- Resistance 1: 0.9666
- Pivot point: 0.9602
- Support 1: 0.9542
- Support 2: 0.9493
- It should be noted that if there is no significant news to influence, the price will be moving from the pivot point to resistance 1 or support 1. Otherwise, the price may go straight through resistance 1 or support 1 and reaches resistance 2 or support 2 and even resistance 3 or support 3.
