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USD/CHF Bears in Control: Dips Below 0.7870 Signal More Downside Ahead

America’s Roundup: Dollar recovers modestly in thin holiday trading ,Wall Street ends higher, Gold takes a breather after record rally, Oil settles marginally lower

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FxWirePro: GBP/CHF Trade Idea

Thursday, July 26, 2018 4:53 AM UTC

FxWirePro Currency Strength Index for GBP/CHF: Bias Bearish
FxWirePro's Hourly GBP Spot Index was at 106.743 (Bullish)
FxWirePro's Hourly CHF Spot Index was at -102.062 (Bearish)

Technical Analysis: Bias Bearish
- Bounces -off strong trendline support
- Breaks above 5-DMA, 5-DMA has turned north
- Stochs on verge of rollover from oversold
- Price has broken above hourly 110-EMA

Support levels - 1.3050 (5-DMA), 1.30 (trendline)
Resistance levels - 1.3104 (21-EMA), 1.3152 (50-DMA), 1.3191 (23.6% Fib)

Recommendation: Good to go long on breakout above 21-EMA, SL: 1.3050, TP: 1.3150/ 1.32

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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FxWirePro: GBP/CHF Trade Idea

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