Technical analysis of USD/CHF for May 02, 2018


All our upward targets which we predicted previous analysis have been hit. The pair is still in a bullish trend, backed by its intraday rising trend line. The process of higher highs and lows remains intact on the prices, which confirms a positive outlook. In addition, the intraday relative strength index is bullish above its neutrality area at 50. To conclude, as long as 0.9920 is not broken, likely advance to 1.0000 and 1.0040 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, stop loss at 0.9920, take profit at 1.000.

Resistance levels: 1.000, 1.0040, and 1.0080

Support levels: 0.9885, 0.9865, and 0.9830.

The material has been provided by InstaForex Company -