FX.co ★ Technical analysis of USD/CHF for October 13, 2015

Trading recommendations:

• According to previous events, the USD/CHF pair has still been moving between the levels of 0.9550 and 0.9619 in the short term. Currently, the price is at the price of 0.9595. On the H1 chart, a strong resistance will be formed at the level of 0.9633 providing a clear signal for sell deals with the target seen at the price of 0.9550. However, the stop-loss is to be placed above the 0.9712 price. On the other hand, the support has been already placed at the price of 0.9550. (50% Fibonacci retracement levels). Therefore, the strong support will be formed at the level of 0.9550 providing a clear signal for buy deals with the target seen at the 0.9620 level.

Observations:

• We expect a range of 69 pips (0.9550 - 0.9619) today.
• The key level is at the daily pivot point (0.9619).
• Stop loss should never exceed your maximum exposure amounts.
• As a rule, the market is highly volatile if the previous day has huge volatility.