10.09.2012 USDCHF

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• Блог им. mizerinvest  

USD/CHF



The USDCHF has corrected and formed a double bottom formation. We mentioned the increased volatility last week (USDCHF up for bounce). We recommended taking long positions at 0.9530 and 0.9480. The pair formed a double bottom formation as visible on this D1 chart. The rising 200 DMA approaches support levels which points to even strong support around 0.9420. This pair is ready to launch a strong rally from strong support.

MACD has supported the bearish move and will be the last indicator to turn bullish. RSI has dropped to oversold levels and recently broke out from extreme oversold condition to oversold on the D1 chart.

This pair offers a great opportunity to enter long positions in order to capitalize the upcoming rally. Our previous recommendation called for long positions and if you followed the recommendation we recommend additions to those longs between 0.9450 and 0.9420, otherwise initiate your first long positions. We recommend the same take profit levels as previously which are above 0.9700.

• usd-chf

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• 10 сентября 2012, 18:36
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