Daily graph: http://www.real-forex.com/charts-daily/251010/CHF_DAILY_251010.JPG
About a week ago, the pair started to increase after a long bearish trend. During this increase, a resistance at 0.9727 has been crossed, confirming the uptrend started. The strength of last week’s candles suggests that the bulls may still winning against the bears for quite a long period.
Our analyses estimate the pair will correct 33% of the previous downtrend until the next resistance at 0.9906 and may even break it.
An opportunity for a “Long” trade may be created by the identification of an increasing configuration on One-Hour graph.
One Hour graph: http://www.real-forex.com/charts-daily/251010/CHF_1H_251010.JPG
Our analysts estimate the creation of the required configuration once the resistance (ONE HOUR graph resistance) of 0.9804 will be broken. Our analysts’ transaction:
· “Limit Order” on “Long” position 10 pips above the given resistance, meaning 0.9814.
· “Stop Loss” order on the last low reached: 0.9777
· “Take Profit” on the following daily resistance: 0.9906
Daily graph: http://www.real-forex.com/charts-daily/251010/NZD_DAILY_251010.JPG
Once the resistance 0.7625 reached, the pair decreased for a few sessions but was stopped by the support 0.7425. Actually, the pair is based above the support, and until now, didn’t success in breaking that support.
This stop suggests a reversing trend very soon, which should continue until the resistance 0.7550 and even higher, opening the opportunity to trade “Long”. Two options may confirm this new trend:
1. A vain breach of the daily support: 0.7425
2. On one-Hour graph, the identification on an increasing configuration.
Have a profitable day!