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Long Term Forex Analysis
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USDCHF pulled back from 1.1486
Sat, Oct 11 2008, 02:09 GMT
by Franco Shao
USDCHF pulled back from 1.1486 and formed a sideways consolidation in a range between 1.1128 and 1.1486. Further rally could be seen after consolidation, a break of 1.1486 level will signal resumption of up trend, and the next target would be at 1.1800 zone. Initial support is located at 1.1128, and followed by the up trend line 1.0010 to 1.0693, now at 1.0900 level.
For long term analysis, USDCHF is in long term bullish movement. Further rise is still possible to 1.2000 zone after consolidation.
Published on Sat, Oct 11 2008, 02:13 GMT
Archive
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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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