USD/CHF:
Дата: 10 January, 2017
H4 Graph: Long Trend
The made a correction after it reached the high of 1.03200, but the bottoms of the correction are showing us that this consolidation was only a correction. Again price is forming a higher bottom. Price remains above the horizontal and diagonal supports above 1.00900. The strong horizontal support it seems that held the price without a break below. Price is also breaking up the diagonal resistance.
Price Action: Third higher low at a level of horizontal and diagonal supports - Possible signal for long.
Fundamental Analysis: The US dollar is fundamentally supported by the fact that the expectation as for higher rates in the USA. The market is trading on future expectations.
DEM (14) - Still not in a overbought zone.
Alternative scenario: If the price breaks down below diagonal and horizontal support below 1.00900 this will cancel the bullish view.
Price for Entry long: 1.01550
SL: 1.009
Jr. Trader - S. Fuchedzhiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.