acetraderfx
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DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 09 Apr 2014 00:38GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
0.8448
55 HR EMA
0.8468
Trend Hourly Chart
Down
Hourly Indicators
Rising fm o/s
13 HR RSI
39
14 HR DMI
-ve
Daily Analysis
Minor recovery b4 one more fall
Resistance
0.8953 - Last Fri's high
0.8905 - Last Fri's low
0.8880 - Y'day's high
Support
0.8826 - Y'day's low
0.8815 - Last Tue's low
0.8788 - Mar 24 low
. USD/CHF - 0.8843... The pair tracked intra-day moves in eur/usd closely y'day. Despite initial narrow trading in Asia, intra-day rally in euro due to broad-based usd's weakness together with selling in eur/chf cross at London open knocked price lower, dlr tanked fm 0.8880 (European high) to 0.8826 in NY.
. Let's look at the daily picture 1st, y'day's selloff to 0.8826, which is exactly 50% r of the recent erratic rise fm Mar's fresh 2-year trough at 0.8698 to 0.8953 confirms the 1st leg of correction has ended n as price is currenly trading below the 21-hr & 55-hr emas, suggesting downside bias remains for further weakness to the 'dynamic' 61.8% r objective at 0.8795, however, a daily close below daily sup at 0.8788 is needed to signal aforesaid correction fm 0.8698 has ended, then dlr wud ratchet lower twd 0.8698 later this month. On the upside, a move back abv 0.8905 anytime wud turn outlook bullish for re-test of 0.8953.
. Today, in view of abv analysis, selling dlr on recovery is the way to go but profit shud be taken on decline as 0.8788 sup is expected to hold on 1st testing n risk is seen for a rebound to take place later today or tomorrow.
Last Update At 09 Apr 2014 00:38GMT
Trend Daily Chart
Sideways
Daily Indicators
Turning down
21 HR EMA
0.8448
55 HR EMA
0.8468
Trend Hourly Chart
Down
Hourly Indicators
Rising fm o/s
13 HR RSI
39
14 HR DMI
-ve
Daily Analysis
Minor recovery b4 one more fall
Resistance
0.8953 - Last Fri's high
0.8905 - Last Fri's low
0.8880 - Y'day's high
Support
0.8826 - Y'day's low
0.8815 - Last Tue's low
0.8788 - Mar 24 low
. USD/CHF - 0.8843... The pair tracked intra-day moves in eur/usd closely y'day. Despite initial narrow trading in Asia, intra-day rally in euro due to broad-based usd's weakness together with selling in eur/chf cross at London open knocked price lower, dlr tanked fm 0.8880 (European high) to 0.8826 in NY.
. Let's look at the daily picture 1st, y'day's selloff to 0.8826, which is exactly 50% r of the recent erratic rise fm Mar's fresh 2-year trough at 0.8698 to 0.8953 confirms the 1st leg of correction has ended n as price is currenly trading below the 21-hr & 55-hr emas, suggesting downside bias remains for further weakness to the 'dynamic' 61.8% r objective at 0.8795, however, a daily close below daily sup at 0.8788 is needed to signal aforesaid correction fm 0.8698 has ended, then dlr wud ratchet lower twd 0.8698 later this month. On the upside, a move back abv 0.8905 anytime wud turn outlook bullish for re-test of 0.8953.
. Today, in view of abv analysis, selling dlr on recovery is the way to go but profit shud be taken on decline as 0.8788 sup is expected to hold on 1st testing n risk is seen for a rebound to take place later today or tomorrow.
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