Forex: USD/CHF Technical Analysis – Channel Top in Focus

| 25 mars, 2014 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8806 (23.6% Fib ret.), 0.8765 (Wedge top)
  • Resistance: 0.8850-73 (channel top, 38.2% Fib ret.), 0.8927 (50% Fib ret.)

The US Dollar moved higher against the Swiss Francas expected, seemingly putting in a Falling Wedge chart pattern. An alternative interpretation of current positioning sees the possibility that a Falling Channel is the dominant pattern in play however. The possibility of such a scenario makes argues against entering long for now until confirmation of an upside breakout is secured.

Near-term resistance is in the 0.8850-73 area, marked by the channel top and the 38.2% Fibonacci retracement. A break above that exposes the 50% level at 0.8927. Alternatively, a drop below support at the 23.6% Fib at 0.8806 would expose the wedge top at 0.8765.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_usd-chf_body_Picture_10.png, Forex: USD/CHF Technical Analysis  Channel Top in Focus

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *