- Oct 31, 2012
Recommendation for USD/CHF:SellSell Stop : Below 0.8822
Stop Loss : Above 0.8946
The USDCHF technical analysis of the price chart on daily timeframe shows USDCHF: Daily is retracing down under the 200-period moving average MA(200) which is declining. We believe the bearish movement will continue after the price breaches below the lower bound of the Donchian channel at 0.8822. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 0.8946. After placing the order, the stop loss is to be moved to the next fractal high indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.