Forex: USD/CHF Technical Analysis – Stalling Below 0.89 Figure

| 31 mars, 2014 | 0 kommentarer

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8826 (channel top), 0.8806 (23.6% Fib ret.)
  • Resistance: 0.8873 (38.2% Fib ret.), 0.8927 (50% Fib ret.)

The US Dollar reboundedas expected against the Swiss Franc, seemingly confirming an upside breakout with a push through the top of a falling channel set from late January. Buyers are now testing resistance at 0.8873, the 38.2% Fibonacci retracement, with a break above targeting the 50% level at 0.8927. Alternatively, a reversal back below the channel top (now at 0.8826) eyes the 23.6% Fib at 0.8806.

Risk/ reward considerations argue against entering long with prices squarely at near-term resistance. On the other hand, the short side looks unattractive without an actionable reversal signal. With that in mind, we will continue to stand aside and wait for a more attractive setup to emerge.

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  Stalling Below 0.89 Figure

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 *