USD/CHF: technical analysis

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05/15/2019

USD/CHF, H4

On the H4 chart, the instrument failed to break the moving average of Bollinger Bands out, resuming the decline. The indicator is directed downwards and the price range is reduced insignificantly, which indicates further downtrend. MACD histogram is reduced in the negative zone having formed a sell signal. Stochastic has left the overbought area having formed a sell signal.

USD/CHF, D1

On the D1 chart, the instrument is testing the key support level of 1.0070. Bollinger Bands reverse sideways, and the price range is expanded, which indicates the continuation of the downtrend. MACD histogram is corrected near the zero level. Stochastic has entered the oversold area; a strong buy signal can be formed until the end of the week.

Key levels

Resistance levels: 1.0030, 1.0050, 1.0076.

Support levels: 1.0010, 0.9990, 0.9973, 0.9946, 0.9913.

Trading tips

Short positions may be opened from the current level with target at 1.0040 and stop loss at 1.0075. Implementation time: 1 day.

Long positions may be opened above 1.0090 with target at 1.0125 and stop loss at 1.0075. Implementation time: 1-2 days.

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