“Currency this week”

By:

Jennifer Strasburg

Senior Analyst

Mercury Trading

USDCHF:

USDCHF is currently heading towards its target at 1.2500 and from there, it is expected to take a dip to start its retracement which is expected to extend primarily to 1.2373 level and can then further extend to 1.2239 level.

Currently USDCHF has also a high value of RSI and it is also indicating that USDCHF will take a dip in near future. Therefore we will look to sell USDCHF around 1.2500 level for primary target below 1.2400.

Recommended Trading Level:

Sell USDCHF @ 1.2498 for initial target @ 1.2378 which can be extended to 1.2239. Use trailing stop once you reach first target. Use initial stop @ 1.2538

Daily Chart:

Risk Disclaimer:

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Mercury Trading at no point of time compels you to buy or sell currencies in the spot Forex market at the levels forecasted by it. The ideas given in this site are purely informational purpose only and anybody who is following these forecasts should understand that this speculative market can fluctuate to unlimited levels up or down based on unexpected events happening around the world. Mercury Trading does not warrant or guarantee the accuracy, timelines or completeness to the service or information contained in the site. And never insist you that its recommendations can lead you only to profits and no losses, thus does not stand responsible for the profits or losses incurred by you in the spot Forex market.