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EUR/USD: general review 14 June 2019, 11:05

EUR/USD: general review 14 June 2019, 11:05 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 1.1265 ...

Mar 18, 2019

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


Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 1.0000
Take Profit 0.9948
Stop Loss 1.0030
Key Levels 0.9948, 1.0009, 1.0070, 1.0131
Alternative scenario
Recommendation BUY STOP
Entry Point 1.0040, 0.9948
Take Profit 1.0131
Stop Loss 1.0000, 0.9900
Key Levels 0.9948, 1.0009, 1.0070, 1.0131
On D1 chart, the price reversed around the level of 1.0131 ([6/8]) and corrected to the center of the Murrey trading range to 1.0009 ([4/8]). A further decrease is possible to the level of 0.9948 ([3/8], the lower line of Bollinger Bands, the lower border of the ascending channel). However, one should consider that Stochastic entered the oversold zone, which limits the potential for decline. The continuation of growth will be possible after the reversal of the instrument near 0.9948 or when the price consolidates above the midline of Bollinger Bands. In this case, the pair may again rise to the level of 1.0131. But so far this scenario seems less probable.
Support and resistance
Support levels: 1.0009, 0.9948.
Resistance levels: 1.0070, 1.0131.

Trading tips
Short positions may be opened from the current level with the target at 0.9948 and stop loss at 1.0030.
Long positions may be opened from 1.0040 or 0.9948 with the target at 1.0131 and stop loss at 1.0000 and 0.9900, respectively.
Implementation period: 3-4 days.

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