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Thursday, 14 July 2016

USD/CHF H4 Analysis









General overview for 14/07/2016:

The market is currently in counter trend corrective cycle  and the wave c to the downside is being anticipated in order to complete the correction. The corrective structure might be in the shape of a simple abc correction like irregular flat or running flat.  The market will resume the up trend when the corrective cycle is terminated.

Support/Resistance:

0.9955 - Wave 1 Top
0.9916 - WR1
0.9893 - Intraday Resistance
0.9800 - Weekly Pivot
0.9737 - WS1
0.9685 - Intraday Support
0.9620 - WS2
0.9519 - Invalidation Level

Trading recommendations:

The higher time frame trend is still up, so buying the dips in the wave c is the way to trade this market now. Sl should be placed below the level of 0.9519*.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. 




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