FOREX FORECAST FOR 31ST OF OCTOBER, 2012.
Money and Finance

FOREX FORECAST FOR 31ST OF OCTOBER, 2012.


Today on the 1 hour chart, the price of USD/CHF is within the channel 0.9300 and 0.9340. We are going to focus on the resistance level which is marked with thick black line. Currently the market is moving downwards towards the thick black line( 0.9340 ) and we are expecting a rebounce on the resistance level line at price level 0.9340

RECOMENDATION : Buy if the price break the resistance level line  0.9340 and is heading upwards with a stop loss place a little below the 0.9340 resistance level and take profit set at 0.9386.

Sell if the price rebounce on the resistance level  0.9340 and is going downwards with your stop loss place a little above the  0.9340 resistance line and take profit at level 0.9300 and 0.9260. Please always use your MACD to time your entry point. And risk only 3% of your capital. 






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