fxpulsation
Posts : 8759 Join date : 2012-01-25
| Subject: USD/CHF Daily Outlook Mon Dec 30, 2013 11:20 am | |
| USD/CHF Daily Outlook Daily Pivots: (S1) 0.8820; (P) 0.8892; (R1) 0.8986; More... With 0.9001 minor resistance intact, near term outlook in USD/CHF stays mildly bearish and deeper fall is expected. Sustained trading below long term fibonacci level of 0.8861 will pave the way to next fibonacci level at 0.8518. Meanwhile, break of 0.9001 is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery. In the bigger picture, USD/CHF is limited below both 55 weeks and 55 months EMA for the moment. The correction pattern from 0.9971 could still extend lower. Sustained break of 38.2% retracement of 0.7065 to 0.9971 at 0.8861 will extend the fall to 50% retracement at 0.8518. Nonetheless, rebound from the current level, followed by break of 0.9249 resistance will indicate that the consolidation pattern might be completed and would turn outlook cautiously bullish. | |
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