AceTraderForex May 8: Daily Technical Outlook on CHF/USD

[acetraderfx]

DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 08 May 2014 00:18GMT

Trend Daily Chart
Sideways

Daily Indicators
Neutral

21 HR EMA
0.8756

55 HR EMA
0.8757

Trend Hourly Chart
Down

Hourly Indicators
Rising

13 HR RSI
66

14 HR DMI
+ve

Daily Analysis
Consolidation b4 oe more fall

Resistance
0.8862 - Apr 22 high
0.8806 - Last Fri's European high
0.8780 - Tue's high

Support
0.8721 - Tue's low
0.8698 - Mar 13 (2014 low )
0.8652 - 100% proj. of 0.8953-0.8743 fm 0.8862


. USD/CHF - 0.8764... The greenback traded narrowly in Asia y'day after falling to a 6-week low of 0.8721 on Tue. Price edged higher to 0.8754 in Europe n then closed near session's high of 0.8764 in NY.

. Looking at the hourly n daily charts, y'day's rebound after failure to penetrate Tue's low at 0.8721 suggests MT decline fm 2012 peak at 0.9972 is not ready to resume yet n minor consolidation wud be seen, however, reckon res at 0.8780 (Tue's high) shud limit upside n bring another fall twds 0.8721. Below wud confirm above mentioned decline has resumed n yield re-test of Mar's 2-year low at 0.8698, break wud add credence to recent bearish view n yield further weakness twd 0.8652 (equality projection of 0.8953-0.8743 measures fm 0.8862) later this week. Having said that, as hourly oscillators wud display prominent 'bullish convergences' on such move, reckon 0.8582, being 80.9% projection of 0.9156-0.8698 measured fm 0.8953 wud hold n bring a much-needed correction.

. Today, we are holding a short position entered y'day in anticipation of subsequent weakness to 0.8670. Only a daily close abv 0.8780 wud abort bearish scenario n may risk stronger retracement to 0.8806 n possibly 0.8830/40.

 

[acetraderfx]

AceTraderFx May 14: Daily Technical Outlook on USD/CHF

DAILY USD/CHF TECHNICAL OUTLOOK

Last Update At 14 May 2014 00:13GMT

Trend Daily Chart
Sideways

Daily Indicators
Rising

21 HR EMA
0.8893

55 HR EMA
0.8874

Trend Hourly Chart
Up

Hourly Indicators
Bearish divergences

13 HR RSI
60

14 HR DMI
+ve

Daily Analysis
Marginal rise b4 retreat

Resistance
0.8953 - Apr 04 high
0.8927 - Apr 03 high
0.8909 - Y'day's high

Support
0.8859 - Mon's low
0.8802 - Last Fri's European ow
0.8766 - Last Thur's Asian high (now sup)


. USD/CHF - 0.8899... Although the greenback traded sideways in Asia y'day n briefly edged lower to 0.8866 in early European morning, price rose to session high at 0.8907 on euro's weakness, dlr retreated to 0.8882 in NY morning after weaker-than-expected U.S. retail sales b4 climbing to a 1-month high of 0.8909.

. Looking at the hourly n daily charts, dlr's rally fm last Thur's low at
0.8703 n y'day's breach of Mon's high at 0.8881 suggests further choppy trading abv Mar's 2-year low at 0.8698 wud continue with upside bias n gain twds res at 0.8927 wud be seen, however, 'bearish divergences' onthe hourly indicators shud prevent strg gain n reckon key res at 0.8953 (reaction high fm 0.8698) wud cap upside this week n bring another fall later. On the downside, only a daily close below 0.8802 (Fri's Asian low) wud defer bullishness n signal the corrective rise fm 0.8703 has formed a temporary top instead n risk subsequent weakness to 0.8766 (previous res, now sup).

. Today, in view of abv analysis, we're buying dlr on dips for one more
rise or sell if price climbs to 0.8920/30 1st for a long-overdue retracement to
0.8860 but sup 0.8802 shud remain intact n yield another upmove next week.

 

[acetraderfx]

AceTraderFx Jun 4: Daily Technical Outlook & Trading Ideals on USD/CHF

DAILY USD/CHF TECHNICAL OUTLOOK

Last Update At 04 Jun 2014 00:06GMT

Trend Daily Chart
Sideways

Daily Indicators
Rising

21 HR EMA
0.8969

55 HR EMA
0.8971

Trend Hourly Chart
Sideways

Hourly Indicators
Neutral

13 HR RSI
48

14 HR DMI
-ve

Daily Analysis
Choppy trading b4 up move resumes

Resistance
0.9082 - Feb 03 high
0.9038 - Feb 12 high
0.8996 - Mon's 3-month high

Support
0.8934 - Last Fri's low
0.8897 - May 21 low
0.8862 - Apr 22 high (now sup)


. USD/CHF - 0.8967... Although the dlr remained under pressure in Asia yesterday, price briefly rebounded to session high at 0.8994 in European morning. However, failure to penetrate Mon's high at 0.8996 triggered profit-taking n price fell sharply to session lows of 0.8951 in NY morning b4 recovering.

. Looking at the hourly chart, y'day's retreat after failure to penetrate Mon's 3-month high at 0.8996 suggests choppy trading below there wud continue with mild downside bias n below 0.8934 wud bring a stronger correction of rise from Mar's 2-year low at 0.8698, however, sup 0.8897 (May 21 low) shud hold n bring another rise twds 0.8996. Looking ahead, abv 0.8996 wud extend aforesaid up move twds 0.9018, being 1.236 times extension of 0.8698-0.8953 measured from 0.8703, having said that, as the hourly oscillators wud display prominent 'bearish divergences' on next rise, strg gain abv there is unlikely to be seen n reckon res 0.9038 wud cap upside n yield retreat later this week.

. Today, in view of abv analysis, we are buying dlr on intra-day retreat for gain to 0.9005 or wud sell if price rises to there 1st. Below 0.8897 wud confirm a temporary top is in place n risk stronger retracement to 0.8862.