USD/CHF Technical Analysis – Further Selling Tipped Ahead

| 11 april, 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 (50% Fib exp.), 0.8669 (61.8% Fib exp.)
  • Resistance:0.8777 (38.2% Fib exp), 0.8844 (23.6% Fib exp.)

The US Dollar weakened for a fourth consecutive day against the Swiss Franc having reversed lower as expected after forming an Evening Star candlestick pattern. Sellers are now aiming to test the 50% Fibonacci expansion at 0.8723, with a break below that exposing the 61.8% level at 0.8669. Alternatively, a reversal back above the 38.2%.Fib at 0.8777 aims for the 23.6% expansion at 0.8844

USD/CHF has lost a cumulative 1.8 percent over the past four days. Most analogous episodes of consecutive downside runs of comparable magnitude in the past year have been followed by significant recoveries. While this by no means guarantees an upswing and the chart certainly does not show a viable bullish reversal signal, we are bit leery to chase the pair lower by entering short at this point. As such, we will stand aside for now.

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

dailyclassics_usd-chf_body_Picture_12.png, USD/CHF Technical Analysis  Further Selling Tipped Ahead

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 *