Overview:
- The USD/CHF pair continues to move downwards from the level of 0.9776. Last week, the pair dropped from the level of 0.9776 to the bottom around 0.9681. But the pair has rebounded from the bottom of opening price of 0.9724 to set at 0.9756 right now. Today, the first support level is seen at 0.968, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.9681. This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling an upward trend. As a result, if the USD/CHF pair is able to break out the first resistance 0.9776, which coincides with the 38.2% Fibonacci retracement leve. The market will rise further to 0.9819 in order to test the weekly resistance 2. Consequently, the market is likely to show signs of a bullish trend. So, it will be good to buy above the level of 0.9681 with the first target at 0.9819 and further to 0.9861 and 0.9922. However, stop loss is to be placed below the level of 0.9639
Comment:
- Date | Time : Tuesday, November 8th, 2016 | All Day.
- Currency: US Dollar - (USD).
- Impact: High impact expected.
- Detail: Presidential Election. Voters will elect the 46th President of the United States.
From www.instaforex.com http://ift.tt/2eQZwZi
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