S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketFacts:
USDCHF rebounded from a horizontal support at 0.7879
The price sits above the 100-period moving average from H1 interval
Recommendation:
Trade: Long USDCHF at market price
Targets: 0.7915, 0.7938
Stop: 0.7850
Opinion:
Looking at the USDCHF chart on the H1 interval, one can see that the pair rebounded following a local downward correction. The price reached the key horizontal support at 0.7870, where buyers appeared. According to the classics of technical analysis as long as the price sits above the 0.7870 handle, the upward move looks more probable. In addition the price sits above the 100-period moving average, which supports the bullish scenario. We recommend going long USDCHF at market price with two targets: 0.7915 and 0.7938. We also recommend placing stop loss at 0.7850. Source: xStation5
