USD/CHF: Technical Analysis for November 23, 2012
2012-11-23 11:27:18 (читать в оригинале)
Forecast:
Strong level (Resistance) will be formed at 0.9440 providing a clear signal for sell deals with the target seen at 0.9320 level. Stop loss is to be placed above 0.9503.
Strong level (Support) will be formed at 0.9280 providing a clear signal for buy deals with the target seen at 0.9405 level. Stop loss is to be placed below 0.9245.
Range: 110 pips.
Overview:
USD/CHF: It is necessary to consider that the price is still located between points of 0.9340 and 0.94100, i.e. above the strong resistance level of 0.9440. The pair has already formed a strong resistance at this level of 0.9440 and is presently approaching to the further testing. Therefore, the Swissie is expected to go downwards following the structure which does not look corrective and it is indicating the bearish opportunity below 0.9440 level. Sell deals are recommended below 0.9440 with the first target seen at 0.9366 level. Thus, the downtrend is likely to continue the bearish movement towards 0.9320 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9280. The saturation is likely to take place around 0.9280/0.9300. Therefore, it is possible that the market will start showing the signs of a bullish behavior. In other words, buy deals are recommended above 0.9280 with the first target seen at 0.9370 level and if the weekly support 1 (0.9399) is broken successfully, then the pair will go further at 0.9440 level. It should be noted that the resistance becomes a support after it is broken.
Weekly Pivot Points:
R3: 0.9619
R2: 0.9566
R1: 0.9509
PP: 0.9456
S1: 0.9399
S2: 0.9346
S3: 0.9289
The material has been provided by Instaforex Company - instaforex.com
