Overview :
- According to the previous events, the USD/CHF pair has still been moving between the levels of 0.9225 and 0.9105. It should be noted that the key level is set at the price of 0.9102 because it represents strong support and it coincides with the ratio of 38.2% Fibonacci retracement level. Equally important, the double top will be formed at the 0.9160 level but it seems the price is going to break this level in order to continue towards the level of 0.9226 (Also, note that the level of 0.9226 coincides with the ratio of 50% Fibonacci retracement level in H4 chart). As it is known, history will probably repeat itself at this level again. Therefore, it will a good sign to buy above the price of 0.9100 with the first target of 0.9166. It will call for an uptrend in order to continue its bearish movement towards 0.9226. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the support at the price of 0.9065.
The material has been provided by InstaForex Company - www.instaforex.com
