empty
 
 
04.10.2012 10:24 AM
GbpChf at 0.618 Fibonacci Support Of Recent Upswing.

This image is no longer relevant

 

Technical Outlook and Chart Setups:

As depicted above, prices are testing support at 0.618 Fibonacci levels (1.5080/90). A bullish bounce here will keep the bulls. Soon a push here is expected to take prices above 1.5350 level. Therefore, it is recommended to buy at current level. Intermediary resistance is at 1.5250, while support is placed at 1.5 level. A breakdown below 1.5 level is supposed to shift focus to 1.49 level, this scenario is less probable. Bullish for now.

Trade Recommendations:

Hold on to long positions taken yesterday, or take fresh positions at current levels, stop below 1.5, target open.

 

Good Luck!

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback