EUR/CHF: Technical Analysis for August 24, 2012
2012-08-24 10:08:03 (читать в оригинале)
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Forecast:
- At 1.2 a strong level (Support) will be formed providing a clear signal for Buy-deals with the target seen at the 1.2540 level. Stop Loss is to be placed below 1.1850.
History tends to repeat itself!
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Overview:
EUR/CHF: The market is still showing signs of strength following the break above 1.2000. Therefore, it will turn to a strong support. In such case, a stronger rise should be seen towards 1.2524 resistance for confirmation. Moreover, the trend is still above 50% Fibonacci retracement level, thus it will be a good sign to buy above 1.2 and sell below 1.1850.
Types of Analysis:
• Fundamental analysis: the Swissie is also quoted amid the promise to “buy unlimited euro” in order to support this market.
• Technical analysis: on a daily chart the level of 1.2 coincides with the golden ratio (61.8% of Fibonacci retracement levels) then it indicates for a bullish market.
• Sentiment analysis: psychology level is at 1.2000, than one should be patient to keep the trade till the end.
• Money management: always invest 3% - 7% of the capital (composite) per all trades, always risk (Stop Loss) 1% - 5% of the capital per all trades, and always trade high risk ratio trade at least 1/2.
• Period: long term.
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
The material has been provided by Instaforex Company - instaforex.com
