Overview :
- According to the previous events, the USD/CHF pair is still moving between the levels of 0.9568 and 0.9633. So, we expect a large range about 65 pips on April 3, 2015. The breakout is seen at the ratio of 50% Fibonacci retracement level (0.9415); for that, the key level is set at 0.9583 because it represents minor support and it is coinciding with the 61.8% Fibonacci retracement level. The history is likely to repeat itself at this level again. Therefore, it will be a good sign to buy above 0.9580 with the first target at 0.9633. It will call for uptrend in order to continue its bullish movement towards 0.9704. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the double top at 0.9404.
Intraday technical levels :
Date and Time: 3/04/2015 11:24
Pair: USD/CHF
- R3: 0.9768
- R2: 0.9720
- R1: 0.9657
- PP: 0.9609
- S1: 0.9546
- S2: 0.9498
- S3: 0.9435
- It should be noted that if there is no significant news influence the market, the price is likely to be moving from pivot point to resistance 1 or support 1. But if there is significant news, 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.
The material has been provided by InstaForex Company - www.instaforex.com
