Technical analysis report for GBPCHF

Page 1

Technical analysis report for GBPCHF Prepared on December 01,

This report will be updated on the new events in the market, but as a base for the updates I will discuss current situation. I always start analysing market using weekly chart to see bigger picture. Since that spike from the 1.1470 market was constantly rising and first monthly resistance was set at 1.4449. Small drop to 1.3809 and nest monthly resistance we can find at 1.5486. There was few weekly resistances and supports on the way up. Price started to go down from 1.5486 and this drop was stopped in the place where red trend line had some small damage. But that was some false break and after that price still continues to go to the down side. If price will go below previous support 1.4821 (weekly support) red line should be redrawn. Blue rising line is already broken and continuation to the down side is expected. And one more important fact on this chart: weekly support 1.4821 matches weekly ex-resistance and we have not had lower low on the weekly chart.


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
Technical analysis report for GBPCHF by Arturas Jencius - Issuu