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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 181772, member: 58758"] [SIZE=7][B]USD/CHF: TECHNICAL ANALYSIS 02.06.20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/USDCHFH402062020.png'][IMG]https://atirox.com/wp-content/uploads/USDCHFH402062020.png[/IMG][/URL] [B]Current trend[/B] The USD/CHF pair begins today’s trading with a slight bullish bias. At the moment the price has met the resistance at the level of 0.96165. The breakout and pair’s sustained trading above this level will give a prospect of growth to the area of 0.96300 level, which coincided with the middle line of Bollinger Bands. One may speak about upward movement continuation after the price consolidates above the resistance level of 0.96436. In this case, the buyers will aim for the 0.96741 resistance. [B]Alternative scenario[/B] If USD/CHF cannot consolidate above the level of 0.96165, the downward trend restoration and retest of the level 0.96001 are possible. The breakdown of this level will let the price decline to the area of 0.95825-0.95782 support zone. This area can prevent the instrument from falling, as the possibility of the reverse of the price is high there. However, the decisive breakdown of 0.95782 can accelerate the plunge towards 0.95520. [B]Technical indicators[/B] Technical indicators maintain a sell signal. Bollinger Bands are pointed downwards. MACD volumes are decreasing in the negative zone. Stochastic’s lines are pointed downwards and are reaching the oversold area. [B]Support and resistance[/B] Support levels: 0.96000, 0.95825, 0.95520. Resistance levels: 0.96165, 0.96436, 0.96741. [B]Trading recommendations[/B] Short positions can be opened below the level of 0.96000 with the target at around 0.95700 and stop-loss at 0.96100. Long positions can be opened above the level of 0.96436 with the target at around 0.96741 and stop-loss at 0.96334. [/QUOTE]
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