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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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USD/CHF: profit target reached perfectly, prepare to turn bearish

The price shot up and reached our profit target perfectly. We now prepare to turn bearish below 1.0030 resistance (Fibonacci retracement, horizontal overlap resistance, and Fibonacci extension) for a push down to 0.9961 support (Fibonacci retracement, recent swing low support, and horizontal overlap support).

RSI (34) is approaching the major resistance at 69%.

Sell below 1.0030. Stop loss is at 1.0071. Take profit is at 0.9961.

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The material has been provided by InstaForex Company - www.instaforex.com