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elliott extended impulse wave down 1.4060
one mor dip to 1.4098 - 1.4050 is likely followed by a grind higher to 1.4182 - 1.4218 after which it can resume it is down trend
technical points
key point 1.4089 - entry point 1.4167 - elliott 1.4346 - closing 1.4123- trend line 1.4269
If we look on daily time frame, we can see that the previous candle is a bullish engulfing candle. So, according to that candle, I think GBPCHF has a possibility to go up today. I think this pair may reaches the resistance level at 1.4245. Then, if GBPCHF can also break that resistance, the bullish movement may continue to the higher one at 1.4296.Spoiler:
in the m30 chart the price is moving in the support and resistance. the upper side resistance is 1.4225 and lower side support is 1.4165 at the time stoch is also try to come out form oversold area. so we can long this pair with the target 1.4260
buy gbp/chf at the level 1.4207 with targets at 1.4282 and 1.4347, but in case of breaking the level 1.4160, then sell below this level with targets at 1.4000 and 1.3930
gbp/chf technical analysis by using : adx
adx : 16.0666
+di : 18.1570
-di : 11.4794
timeframe : 1 hour
date : 22.02.13
This pair is re-breakdown barrier 1.4235 but it still need confirmation after breakthrough 1.4170 because it might be back to bullish trend at anytime if sellers lost power.
H4 LWMA Line shown a strong downtrend has been come back and it looking for 1.4066 barrier. So, we can entry the selling plan after price breakdown 1.4066 and targetted 1.4000. We can consider for buying plan if price breakup 1.4332.
Pair : GBPCHF
Updated : Sun, Feb 24 16:21
Price : 1.4082
Movement : -113.9 Pips
Movement : -0.80%
Support : 1.3965
Pivot : 1.4141
Resistance : 1.4318
Gbp/chf analysis for 02.25.2013 by using : pivot indicator.
r3: 1.4431
r2: 1.4331
r1: 1.4265
pivot : 1.4165
s1: 1.4099
s2: 1.3999
s3: 1.3933