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USDCHF looking to complete its retracement

Alex — Tue, 02 Feb 2010 11:04:29 +0000

USDCHF seems to be completing its retracement and is looking to do so just
around 1.0530 level. USDCHF is expected to resume its upward trend again
from 1.0530 level. If USDCHF manages to continue its downward trend and
break of 1.0530 will mean that its next target will be somewhere around
1.0450 level.

On the upper side, its initial target will be around 1.0640 level and
continuation of its upward trend will lead USDCHF above 1.0700 level. RSI
was on the higher side but current retracement has opened up it considerably
to allow it to make a move towards 1.0640 level.

USDCHF might look to take some retrace by end of US session

Alex — Fri, 29 Jan 2010 16:04:09 +0000

USDCHF is moving nicely in an upward trend but we might see USDCHF taking a
dip by the end of US session for monthly closings. Traders looking to buy
USDCHF might hold back a bit and let USDCHF take a dip today before buying
USDCHF for next week.

The dip might go towards 1.0430 and might even extend below 1.0400 level.
Overall scenario is still very good for buying but holding back is
suggested, one because of month closing and secondly the RSI value of USDHF
is a bit on higher side and might look to ease a bit by taking a dip today.

USDCHF Pair – A Bear’s Dream?

Alex — Thu, 22 Oct 2009 10:19:34 +0000

The USDCHF pair is looking like a bear’s dream with the RSI hovering around the oversold zone, currently valued at 33. The MFI is also suggesting a downward trend, since it was at 64 only 10 days ago, compared to 36 today. Technical’s suggest that there is much downside left until 0.992 (Stop Loss: 0.995) in the coming week for bears to play around with. That level is a strong support, since it hasn’t been broker since July ‘08.

The pair could bounce back from that level giving bulls some relief. Bollinger bands are also showing a bearish breakout after consolidating briefly in the first week of October. The 14 day MA has also cut the 21 day MA from above, and the pair is currently trading way below that level, having crossed the lower Bollinger band twice.

The pair may also extend its downside fall as US corporate results are coming out to be much better than anticipated, giving the US dollar much needed support.

Support	1.0105	1.0075	1.0055
Resistance	1.0136	1.0164	1.0171

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