USD/CHF Weekly Technical Report 19-23/11/2012

ecPulse
2012-11-19 07:00AM UTC

 

Areas of 0.9400 halted the upside move and trading today started with a downside bias; this signals that the bearish Butterfly Pattern continues to influence trading and might extend the downside pressure on the pair . Breaching 0.9570 will completely fail the pattern and extend the upside move, while stability below 0.9515 supports the completion of the pattern as provided on the chart.

The trading range for this week is among the key support at 0.9245 and key resistance at 0.9655.

The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.

 

Support 0.9425 0.9365 0.9325 0.9305 0.9275

Resistance 0.9490 0.9515 0.9570 0.9600 0.9655

Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9490 targeting 0.9445, 0.9415 then 0.9360 and stop loss with four-hour closing above 0.9570 might be appropriate this week

 

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

USD CHF Analysis

Forex

The USDCHF price faces temporary negative pressure – Forecast today - 29-03-2024
2024-03-29 01:48AM UTC
USDCHF Price Analysis Expected Scenario: Bullish Trend The USDCHF pair rebounded bearishly ...
NZD USD Analysis

Forex

The NZDUSD price keeps its negative stability – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
NZDUSD Price Analysis Expected Scenario: Bearish Trend The NZDUSD price remains below the ...
AUD USD Analysis

Forex

The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
AUDUSD Price Analysis Expected Scenario: Bearish Momentum The AUDUSD price failed to sustain ...