By Anton, ForexYard
• Below is the 4-hour chart of the GBP/CHF currency pair.
• The technical indicators used are the Slow Stochastic, Relative Strength Index (RSI) and Williams Percent Range.
• Point 1: There is a “doji” candlestick that has formed on the chart, indicating that a reversal should take place.
• Point 2: The Slow Stochastic indicates a bearish cross, signaling that the next move maybe in a downward direction.
• Point 3: The Williams Percent Range shows that this pair was heavily over-bought peaked near the highest mark it could reach, and then turned a corner and now stands in a bearish posture.
• Point 4: The Relative Strength Index (RSI) signals that the price of this pair currently floats in the over-bought territory, indicating downward pressure.
GBP/CHF 4-Hour Chart
Forex Market Analysis provided by Forex Yard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your 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.
