Forex: USD/CHF Technical Analysis – Key Trend Line in Focus

| 27 februari, 2014 | 0 kommentarer

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8848 (Dec’13 closing bottom), 0.8798 (Dec 27 low)
  • Resistance: 0.8921 (23.6% Fib ret.), 0.8966 (38.2% Fib ret.)

Prices continue to range above support at 0.8848, the December 2013 closing bottom. Near-term resistance is at 0.8921, a barrier marked by the 23.6% Fibonacci retracement and a falling trend line set from late January. A daily close above this threshold initially exposes the 38.2% level at 0.8966. Alternatively, a reversal beneath support aims for the December 27 low at 0.8798.

Prices are too close to relevant resistance to justify a long trade on risk/reward grounds. On the other hand, a short position would necessarily presume resistance will hold up, an assumption that is baseless thus far absent a clear-cut reversal signal. As such, we remain flat.

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

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis  Key Trend Line in Focus

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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 *