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Long Term Forex Analysis
USDCHF is topping at 1.0623
Sun, May 11 2008, 01:12 GMT
by Franco Shao
USDCHF is topping at 1.0623, key support is now at 1.0298, a break of this level will confirm the cycle top and deeper decline to 1.0100 area is expected to follow. Initial resistance is at 1.0623, only rise above this level will signal resumption of the up trend.
For long term analysis, USDCHF is in long term down trend. As long as 1.0750 resistance holds, deeper decline towards 0.9000 area is in favor.
Published on Sun, May 11 2008, 01:20 GMT
Archive
- USDJPY is forming a cycle bottom at 103.76
Published On Wed, Jul 23 2008, 02:15 GMT - USDCHF rebounded from 1.0010 level
Published On Sat, Jul 19 2008, 05:29 GMT - USDJPY broke below 104.98 support
Published On Wed, Jul 16 2008, 02:00 GMT - GBPUSD is forming a cycle bottom at 1.9647
Published On Sat, Jul 12 2008, 02:18 GMT - EURUSD is forming a cycle top at 1.5908
Published On Wed, Jul 9 2008, 02:00 GMT
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Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.