Forex: USD/CHF Technical Analysis – Wedge Points to Recovery

| 14 mars, 2014 | 0 kommentarer

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

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8723 (wedge bottom)
  • Resistance: 0.8806 (23.6% Fib ret.), 0.8873 (38.2% Fib ret.)

The US Dollar may be readying to turn higher against the Swiss Franc as prices carve out a falling Wedge chart formation. The setup hints at ebbing downward momentum and often precedes a reversal higher. A break above resistance at 0.8806, the intersection of the Wedge top and the 23.6% Fibonacci retracement, exposes the 38.2% level at 0.8873. Wedge support is now at 0.8723.

A Hammer candlestick above Wedge support suggests a turn higher may be around the corner but confirmation is absent for the time being. We will continue to stand aside for now, looking for a break above the Wedge top on a daily closing basis to initiate a long position.

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  Wedge Points to Recovery

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 *