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Best Opportunities, Vision and Technical Analysis for the USD/CHF pair 6 March 2019

2019-03-06 11:55 am | Resource: Technical Analysis | No Views : 181

Time frame Used –hourly
The USD/CHF is moving in a sideway direction in the near term.
USD/CHF CHART
The USD/CHF is moving in a trading range as the USD/CHF is facing resistance and selling pressure around level of 1.0054 forming a technical pattern called a potential double top. We also note that the price moving below the Bollinger’s moving average line, The USD/CHF is retreating to the support level of 1.0036, which we expect to break to downward for targeting at 1.002
recommendation
Sell around the current levels for targeting at 1.0036 with the activation of stop loss in the case of closing above level of 1.0048.
   Resistance: 1.0048 - 1.0054
Support: 1.0043 - 1.0035
Direction: sideway
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