Today’s Forex Guide

USD/CHF Reached our first Bearish target at 0.9640


Apr.15.2015

3:00 PM (EST) Update

USD/CHF 4 Hour Forex Chart
USD/CHF 4 Hour: Testing 23% Fibonacci Level at 0.9704

Suggested positioning: Short position below 0.9730 with targets at 0.9640 and 0.9510 in extension

Technical reasons why: The pair broke below our pivot levels of 0.9730 and 0.9803 and currently testing our first bearish target of 0.9638 while entering the Ichimoku cloud. A Break below the Ichimoku cloud can bring us to next targets at 0.9580 and 0.9515 in extension.

Alternative Scenario: Above 50% Fibonacci level of 0.9803 look for more upside towards 0.9876 and 1.008.

Where to set your stops and limits:

Support Levels Turning Point Resistance Levels
0.9580 0.9730 0.9879
0.9515 0.9803 1.008

 

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