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USD/CHF: Murrey analysis 18 March 2019, 13:48

USD/CHF: Murrey analysis 18 March 2019, 13:48 Scenario Timeframe Intraday Recommendation SELL Entry Point 1.0000 Tak...

Feb 20, 2019

USD/CHF: technical analysis 20 February 2019, 09:53


Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 0.9990
Take Profit 0.9935
Stop Loss 1.0020
Key Levels 0.9907, 0.9937, 0.9970, 1.0000, 1.0039, 1.0081, 1.0106
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0045
Take Profit 1.0105
Stop Loss 1.0020
Key Levels 0.9907, 0.9937, 0.9970, 1.0000, 1.0039, 1.0081, 1.0106
USD/CHF, D1
On D1 chart the instrument was corrected to the middle line of Bollinger Bands. The indicator turns sideways, and the price range slightly reduced, which indicates the correction of a downward trend. MACD histogram is in thee positive zone maintaining a weak buy signal. Stochastic entered the oversold area, so a strong buy signal can be formed until the end of the week.

USD/CHF, H4
On H4 chart, the instrument resumed its growth from the strong resistance level of 1.0000. Bollinger Bands are pointing downwards, and the price range slightly increases indicating the preservation of the downward trend. MACD histogram keeps the sell signal. Stochastic is preparing to leave the oversold zone, so a strong buy signal can be formed during the day.

Key levels
Support levels: 0.9907, 0.9937, 0.9970, 1.0000.
Resistance levels: 1.0039, 1.0081, 1.0106.
Trading tips
Short positions may be opened below 0.9995 with the target at 0.9935 and stop loss at 1.0020.
Long positions may be opened above 1.0040 with the target at 1.0105 and stop loss at 1.0020.
Implementation time: 1-2 days.

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