FOREX FORECAST FOR 26TH OF OCTOBER, 2012.
Money and Finance

FOREX FORECAST FOR 26TH OF OCTOBER, 2012.


Today on the 1 hour chart, the price of USD/CHF is within the channel 0.9315 and 0.9361. But we are going to pay attention to the resistance marked with thick black line. Currently the market is moving upwards towards the thick black line(0.9361) and we are expecting a breakout of the resistance at price level 0.9361.

RECOMENDATION : Buy if the price break the resistance level line 0.9361 and is heading upwards with a stop loss place a little below the 0.9361 resistance level and take profit set at 0.9384 and upwards respectively.

Sell if the price rebound on the resistance level 0.9361 and is going downwards with your stop loss place a little above the 0.9361 resistance line and take profit at level 0.9315 and 0.9292 respectively. Please always use your MACD to time your entry point. And risk only 3% of your capital. 






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