FOREX FORECAST FOR 2IST OF NOVEMBER, 2012.
Money and Finance

FOREX FORECAST FOR 2IST OF NOVEMBER, 2012.




Today on the 5 hour chart, the price of USD/CHF is within the channel 0.9491 and 0.9381. We are going to focus on the resistance level which is marked with thick black line. Currently the market is moving downwards and we are expecting a continous downtrend towards the support level line at price level 0.9381. 

RECOMENDATION : Buy if the price break the resistance level line 0.9491 and is heading upwards with a stop loss place a little below the 0.9491 resistance level and take profit set at 0.9608 and upwards

Sell if the price continues on the down movement towards the support level 0.9381 and is going downwards with your stop loss place a little above the 0.9491 resistance line and take profit at level 0.9381 and 0.9277 respectively. Please always use your MACD to time your entry point. And risk only 3% of your capital.




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