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USD/CHF: Technical Analysis for October 9, 2012

2012-10-09 16:30:33 (читать в оригинале)

Forecast:

• Strong level (Resistance) will be formed at 0.9430 providing a clear signal for sell deals with the target seen at the 0.9325 level. Stop-loss is to be placed above 0.9475.

• Strong level (Support) will be formed at 0.9320 providing a clear signal for buy deals with the target seen at the 0.9403 level. Stop-loss is to be placed below 0.9245. 

 

Overview:

USD/CHF:

It is necessary to consider that the price is still located between points of 0.9320 and 0.9375, i.e. above the strong resistance level of 0.9430. The pair has already formed a strong resistance at this level of 0.9430 and is presently approaching it to the further testing. Therefore, the Swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below 0.9430 level. Sell deals are recommended below 0.9430 with the first target seen at 0.9370 level. Thus, the downtrend is likely to continue the bearish movement towards 0.9325 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9320. The saturation is likely to take place around 0.9320. Therefore, it is possible that the market will start showing the signs of a bullish behavior. In other words, buy deals are recommended above 0.9320 with the first target seen at 0.9365 level and further at 0.9403 level.

The material has been provided by Instaforex Company - instaforex.com