Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

Download MT4
MT5 Terminal

GBP/CHF Potential Trend Line Bounce (June 20, 2014)

GBP/CHF’s uptrend is still intact, as seen on the 4-hour forex chart with an ascending trend line connecting price lows. Stochastic still hasn’t reached the oversold zone, which suggests that a deeper pullback might happen before the rally resumes.

At the same time, the 100 and 200 simple moving averages are in line with the rising trend line, making it a strong potential support zone. A bounce off the 1.5100 major psychological level, which coincides with a shorter-term broken resistance area, could lead to a rally up to the previous highs at 1.5300.

140620_gbpchf

Going long at 1.5100 with a stop below 1.5000 and a target of 1.5300 could yield a 2:1 return on risk. Aiming for new highs could improve the reward potential but it would be prudent to adjust the stop to entry once price tests the previous highs.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/pl
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Join Us in Just 1 Minute!

Download MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/pl