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Long Term Forex Analysis
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USDCHF traded in range between 1.0842 and 1.1084
Sat, Aug 30 2008, 00:58 GMT
by Franco Shao
USDCHF traded in range between 1.0842 and 1.1084 for several days. As long as 1.0842 support holds, we'd expect up trend to resume, and further rise is possible to 1.1200 level. However, a break below 1.0842 key support will indicate that the rise from 1.0010 has completed, and then pullback could be seen to 1.0600 zone.
For long term analysis, USDCHF broke above 1.0623 (May 8 high) long term resistance, suggesting that the long term down trend from 1.3288 (2005 high) has completed. The rise from 0.9634 (Mar 17 low) is now treated as resumption of long term up trend. Further rise towards 1.1600 is now in favor.
Published on Sat, Aug 30 2008, 01:04 GMT
Archive
- EURUSD rebounded from 1.4626 level
Published On Sat, Nov 7 2009, 05:12 GMT - EURUSD pulled back from 1.5062
Published On Sat, Oct 31 2009, 15:13 GMT - GBPUSD broke above the falling trend line
Published On Sun, Oct 25 2009, 01:09 GMT - EURUSD broke above 1.4843
Published On Sat, Oct 17 2009, 04:10 GMT - USDJPY's downtrend from 97.78 extended further to as low as 88.01
Published On Sat, Oct 10 2009, 04:45 GMT
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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 trade 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.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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