With a flat close the previous week followed by a higher close at the week, USDCHF has triggered a correction. Though still holding on to its broader short term bias, the immediate risk is for it to build on its corrective recovery. If this occurs expect the pair to strengthen further towards the 0.9456 level followed by the 0.9511 level and then the 0.9606 level.
By Mohammed Isah | Dec 09 | FX Tech Strategy
With the pair closing marginally higher on the back of its previous week higher close, the risk is for a follow through to occur.
By Mohammed Isah | Nov 05 | FX Tech Strategy
With an attempt on the upside failing and USDCHF closing marginally higher the past week, the risk of returning to the 0.
Oct 15 | FX Tech Strategy
The pair continues to weaken turning lower below the 0.9421 level, its July 2012 low to close the week at 0.9271 level. This leaves the pair aiming at the 0.9193 level, its May 07'2012 low on further declines where a violation could force more declines towards the 0.9100 level. A breach of here will aim at its major psycho level at the 0.9000 level.
By Mohammed Isah | Sep 17 | FX Tech Strategy
USD/CHF's fall extended to as low as 0.9238 last week and broke mentioned target of 0.9420 support level. The break of lower channel support also showed sign of acceleration. Initial bias remains on the downside this week should extend through 0.9 psychological level to 0.8930 key level next. On the upside, break of 0.9420 minor resistance is needed to indicate short term bottoming.
Sep 16 | ActionForex
With USDCHF holding below the 0.9655 level, Aug 06'2012 low and closing lower the past week, risk of further decline is developing. The pair continues to hold on to its downside pressure initiated from the 0.9970 level leaving the risk of further downside pressure towards the 0.9480 level. A violation of here could force more declines towards the 0.9421 level where a breach will aim at the 0.
By Mohammed Isah | Sep 10 | FX Tech Strategy
USD/CHF's fall from 0.9971 continued last week as expected and reached as low as 0.9443 so far. Initial bias remains on the downside this week for 0.9420 key support level next. Sustained break there will pave the way for net important support level at 0.8930. On the upside, break of 0.9580 minor resistance is needed to signal short term bottoming.
Sep 10 | ActionForex
USD/CHF's fall from 0.9971 short term top extends to as low as 0.9502 last week. Initial bias remains on the downside this week for 0.9420 key support level next. On the upside, above 0.9635 will argue that a short term bottom is in place, possibly on bullish convergence condition in 4 hours MACD and would bring rebound back towards 0.9799 resistance.
Sep 03 | ActionForex
USD/CHF stayed in consolidative price actions above 0.9656 temporary low last week. Initial bias remains neutral this week first. But after all, outlook remains bearish as long as 0.9898 resistance holds. 0.9971 is at least a short term top and fall from there is expected to resume sooner or later. Below 0.9656 will target 38.2% retracement of 0.8930 to 0.9971 at 0.9573 first.
Aug 18 | ActionForex
USD/CHF edged lower to 0.9656 last week but drew support from 55 days EMA and recovered. Initial bias remains neutral this week for some more consolidations. But near term outlook stays bearish as long as 0.9898 minor resistance holds. Fall from 0.9971 short term top is still expected to continue. Below 0.9656 will target 38.2% retracement of 0.8930 to 0.9971 at 0.9573 first.
Aug 12 | ActionForex
Much volatility was seen in USD/CHF last week but that didn't change the overall outlook. A short term top is at least in place at 0.9971 and deeper decline is expected in near term. Below 0.9690 will target 38.2% retracement of 0.8930 to 0.9971 at 0.9573 first. Break will have further bearish implication and should target 0.9420 key near term support level.
Aug 05 | ActionForex
Despite edging higher to 0.9971, USD/CHF failed to sustain above 61.8% retracement of 1.1730 to 0.7065 at 0.9948. It formed a short term top with bearish divergence condition in 4 hours MACD. Initial bias remains on the downside this week and deeper fall could now be seen back to 38.2% retracement of 0.8930 to 0.9971 at 0.9573 first. Break will then target 0.9420 key near term support level.
Jul 30 | ActionForex