Daily -“As is the case with EUR/USD and USD/CHF, continued failure at trend extremes warrant caution although there is nothing ‘solidly bearish’ to work with just yet. Weakness below 100.51 (December 2015 high) would suggest a broader reversal.” 100.51 (2015 high) is classified as a decision point (make or break level). It’s OK to lean towards the long side as long as that level holds. Weakness below would suggest a broader reversal is ...
USD/CHF Technical Strategy: Longat 0.9452Support: 0.9541, 0.9441, 0.9359Resistance:0.9658, 0.9741, 0.9815 The US Dollar declined against the Swiss Franc as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. A daily close below 0.9541-64 area marked by a rising trend line and a falling channel bottom exposes the October 29 low at 0.9441. Alternatively, a reversal above the channel top at 0.9658 clears the way for a test of the November 7 high at 0.9741. ...
Talking Points: USD/CHF Technical Strategy: Long at 0.9068Support:0.9332, 0.9272, 0.9223Resistance: 0.9429, 0.9526, 0.9586 The US Dollar soared to a 12-month high against the Swiss Franc after turning higher as expectedhaving put in a Bullish Engulfing candlestick pattern. A daily close above the 100% Fibonacci expansion at 0.9429 exposes the 123% level at 0.9526. Alternatively, a reversal back belowthe 76.4% Fib at 0.9272 opens the door for a test of the61.8% expansionat ...
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