Forex Analysis: 25 Apr 2012, 10:37 UTC+00

GBP/CHF Setting Up a Pullback at least to 1.4550 - Technical Analysis and Trading Recommendations

General overview for 20/02/2015 10:30 CET

The current wave progression starts to looks like a triangle formation with a very strong support based between the levels of 1.2349 - 1.2359. The price action is very choppy and overlapping, just as it should be in a triangle pattern. This might lead to a conclusion that as long as the level of 1.2349 is not violated, the recent swing high at the level of 1.2797 might be the top for a larger wave 3 instead of wave 5. Nevertheless, the market is still consolidating in a rather thight range, and traders might wait for more clear pattern to emerge.

Support/Resistance:

1.2349 - Technical Support|Key Level|

1.2465 - Intrday Support

1.2553 - Intraday Resistance

1.2420 - Golden trend Line Dynamic Support

Trading recommendations:

Daytraders should refrain from trading as long as one of the important levels is violated: either 1.2349 or 1.2696.

usdcad_h1.jpg

Show full picture

Performed by
analytical expert: Harsh Japee
InstaForex Group © 2007-2016
 Published: 25 Apr 2012, 10:37 UTC+00

 
Recommend: Forex Analytics
 
Technical analysis of USD/JPY for December 09, 2016
9 Dec 2016, 09:56 UTC+00   
Views today 1891
Elliott wave analysis of EUR/NZD for December 9 - 2016
9 Dec 2016, 11:30 UTC+00   
Views today 1861
Intraday technical levels and trading recommendations for GBP/USD for December...
9 Dec 2016, 15:29 UTC+00   
Views today 1854
Technical analysis of EUR/USD for Dec 09, 2016
9 Dec 2016, 08:40 UTC+00   
Views today 1853
Global macro overview for 09/12/2016
9 Dec 2016, 17:23 UTC+00   
Views today 1853