USD/CHF: Intraday Technical Analysis for July 19, 2012
It is necessary to consider that the price is still located between points 0.9871 and 0.9735, i.e. above the strong resistance level 0.9871. The pair has already formed a strong resistance at this level of 0.9871 and is presently approaching it for the further testing. Therefore, the Swissie is expected to go downwards following the non-corrective structure and indicating the bearish opportunity below the 0.9871 level. Sell-deals are recommended below 0.9871 with the first target seen at the 0.9803 level. Thus, the downtrend is likely to continue the bearish movement towards the 0.9765 level. Moreover, it is crucial that the price has probably formed a strong support at 0.9735. The saturation is likely to take place around 0.9735. Therefore it is possible that the market will start showing the signs of a bullish behaviour. In other words, Buy-deals are recommended above 0.9735 with the first target seen at the 0.9800 level and further at the 0.9865 level.
Performed by Мурад Эль Кеддани, Analytical expert
InstaForex Companies Group © 2007-2011
Mourad EL KEDDANI
Was born in Oujda, Morocco. Currently lives in Belgium. In 2003 obtained B.S. in Experimental Sciences. In 2007 obtained a graduate diploma at Institut Marocain Specialise en Informatique Applique (IMSIA), specialty - Software Engineering Analyst. In 2007-2009 worked as teacher of computer services and trainer in a professional school specializing in computer technologies and accounting. In 2005 started Forex trading. Authored articles and analytical reviews on Forex market on Forex websites and forums. Since 2008 performs Forex market research, and develops and implements his own trading strategies of Forex analysis (especially in Forex Research & Analysis, Currency Forecast, and Recommendations and Analysis).
Types of Analysis: Fundamental analysis , Technical analysis , Forecast
Experience: 6 years
Analytical Credo: Numerical analysis: Probabilities, equations and techniques of applying Fibonacci levels. And Classical analysis: Breakout strategy and trend indicators.