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GBPCHF Technical Analysis on 15-01-2016 by PaxForex

The price is below the moving average 20 MA and 200 MA, indicating the downward trend.
Average in the MACD is below the zero level.
The oscillator Force Index is below the zero level.

If the price rebound from resistance level, you shall follow recommendations below:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.4340
• Take Profit Level: 1.4180 (160 pips)

 

If the level of resistance is broken, you shall follow recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.4540
• Take Profit Level: 1.4620 (80 pips)

 

GOLD
Possible short position at the breakdown level 1076

GBPUSD
Possible short position at the breakdown level 1.4330

USDJPY
Possible short position at the breakdown level 117.15

USDCHF
Possible short position at the breakdown level 1.0000

 

Source: www.paxforex.com

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