Analysis
menu
TS

Trading Setup - USDCHF Targeting Fibonacci Levels

The USDCHF has moved in a steep downtrend, which stopped at 0.9576. From this low, it moved back up, to find a resistance at 0.9654. Currently the price is moving sideways below this local resistance. A break above it could trigger a rally for the USD against the Swiss franc which could target the 38.2 Fibonacci retrace. 
This setup is based on the break out above the resistance. The levels to be followed are the following:
 
USDCHF Targeting Fibonacci Levels- June 10th Trading SetupConfirmation Level : 0.9655
Stop Loss : 0.89617
TP 1 : 0.9700
TP 2 : 0.9748
TP 3 : 0.9788

Risk Warning: Financial Derivative Instruments are complex instruments and leveraged products that involve a high level of risk which can result in high losses, including the risk of losing the entire capital invested by the Client. Such instruments might not be suitable for all Clients. The Client should not engage in transactions with such Financial Instruments unless he/sheunderstands and accepts the risks involved by trading Financial Instruments, taking into account his/her investment objectives and level of experience. Hayeswell warns that the information published on this website shall not be considered as a recommendation to buy/sell/keep a certain financial instrument and that past performance of Financial Instruments is not a reliable indicator of future performances.