Filed Under:
Forex pairs in this Article » USD/CHF
To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support: 0.8848 (Dec’13 closing bottom), 0.8825 (channel floor)
  • Resistance: 0.8906 (14.6% Fib exp.), 0.8937 (23.6% Fib exp.)
Prices are attempting to mount a recovery from support at 0.8848, the December 2013 closing low. A break above the 14.6% Fibonacci expansion at 0.8906 initially exposes the 23.6% level at 08937. Alternatively, a reversal below 0.8848 targets a falling channel bottom at 0.8825.

Prices are too close to near-term resistance to make a long position actionable from a risk/reward perspective at this point. Meanwhile, attempting to enter a short trade lacks confirmation that resistance will hold. As such, we will continue to stand on the sidelines for now until an actionable setup presents itself.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – Franc Under Pressure AnewDaily Chart - Created Using FXCM Marketscope 2.0

comments powered by Disqus
Trading Center