Overview :
- After the 15th of January 2015, the market of USD/CHF pair was not stable and trend was not also so clear (it is tight sideway range). According to the previous events, the price has still been moving between 0.9107 and 0.8424 so it is recommended to be careful at this area. Therefore, the first step is to wait for a period of tight sideway range market before breakouts. Then, probably, the market is going to start showing signs of bullish market. In other words, it will be a good sign to buy above 0.8424 (38.2% of Fibonacci retracement levels) with a first target of 0.8762 and it will climb towards 0.8875 (weekly pivot point). Moreover, it should also be noted that other resistance is going to set at the levels of 0.9022, 0.9063 and 0.9104 which coincides with the ratio of 61.8% Fibonacci retracement levels. The level of 0.9104 is called for a strong bearish market since January 15, 2015. However, if the pair can not break 0.8762, the market will indicate a bearish opportunity below 0.8762. Then the level will act as strong resistance, for that it will be a good sign to sell below 0.8762 with the first target of 0.8602 and it will call for downtrend in order to continue bearish trend towards 0.8420.
The material has been provided by InstaForex Company - www.instaforex.com
