Price has started retrace upward after it was dropped in the movement gains. 1.5013 daily resistance point will be the next obstacle for the price to move freely up in the next period.
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Price has started retrace upward after it was dropped in the movement gains. 1.5013 daily resistance point will be the next obstacle for the price to move freely up in the next period.
Gbp/chf technical analysis for 10.10.2012 by using : Auto pivot indicator.
resistance 3:1.5196
resistance 2:1.5126
resistance 1:1.5088
pivot point :1.5018
support 1:1.4980
support 2:1.4910
support 3:1.4872
Spoiler:
On the H1 chart, the price is below 12 EMA and 72 EMA indicates the trend is still up
21 RSI is above 50 indicates the trend is still up
RECOMMENDATION: BUY
Take profit: 1.5119
GBPCHF is in bullish movement now. I think the sentiment is strong enough. I expect GBPCHF will try to reach the resistance level at around 1.5104. Then, GBPCHF also can rise more higher if can break that resistance level
Elliott: correction zigzag 1.5100
Decline should be supported around 1.5007 - 1.4979 zone for rally to above 1.5068. A clear break of 1.4979 will damage this expected rally.
Technical points
Key point 1.5054
Entry point 1.5048
Elliott 1.4951
Closing 1.5035
Projection 1.5065
Trendline 1.5012
Trendline 1.5073
Supports / Resistances
Res 2 1.5102
Ex-High 1.5074
Res 1 1.5068
Pivot 1.5040
Sup 1 1.5007
Ex-Low 1.5012
Sup 2 1.4979
Gbp/chf technical analysis for 11.10.2012 by using : Auto pivot indicator.
resistance 3:1.5133
resistance 2:1.5104
resistance 1:1.5069
pivot point :1.5040
support 1:1.5005
support 2:1.4976
support 3:1.4941
Pair has broken the trend line at the top, but not the left, and formed a parallel channel down ... now all movements are under the moving average with a period of 200, so it is calculated on the pair falling to the bottom of the channel to 1.5000, and may lower.
GBPCHF has tried to test 1.5012 support level again. Then, GBPCHF has been rejected again by that support level. I think it will make GBPCHF goes up today. In my view, GBPCHF has a potential to rise and reach the resistance level at 1.5104
Elliott: irregular flat correction down 1.4922
It looks set to visit further lower territory down to around 1.4972. Its corrective attempts should fail ahead of 1.5046. Stop loss above 1.5089 zone.
Technical points
Key point 1.4994
Entry point 1.5023
Elliott 1.5074
Closing 1.5002
Projection 1.4951
Trendline 1.5059
Trendline 1.5044
Supports / Resistances
Res 2 1.5089
Ex-High 1.5059
Res 1 1.5046
Pivot 1.5015
Sup 1 1.4972
Ex-Low 1.4985
Sup 2 1.4941
GBPCHF had broken the support level at 1.5012 yesterday. That breaking has given a chance for GBPCHF to fall today. I think GBPCHF will continue falling to the next support level at around 1.4925 or at least to the this week's low at 1.4945.