Trading recommendations :
- According to the previous events, the USD/CHF pair has still been moving between 0.9340 and 0.9415.
- So, we expect a large range about 75 pips in the coming future.
- The breakout seen at the ratio of 23.6% Fibonacci retracement level (in H1 chart) for that the key level is set at the level of 0.9320 because it represents strong support and it coincides with the 23% Fibonacci retracement level.
- As it is known, history will probably repeat itself at this level again.
- Therefore, it will a good idea to buy above 0.9320 with the first target of 0.9380. It will call for an uptrend in order to continue its bullish movement towards the level of 0.9425.
- Also, it should be noted that the level of 0.9432 represents the double top.
- On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed below the double bottom at the price of 0.9285.
The material has been provided by InstaForex Company - www.instaforex.com
