Mon, Jun 29 2009, 03:34 GMT
by Ian Copsey
| Resistance: | 1.0885-90 | 1.0932 | 1.0968 | 1.0988 |
| Support: | 1.0823 | 1.0780 | 1.0761 | 1.0723 |
Please read the attached PDF file to ensure that you receive the full analysis...
Bias: Cautiously I look for gains today but we should be careful at 1.0968 and the 1.1021 high
Friday's losses developed and moved into the lower support range at 1.0761-94. This has seen a recovery which has extended this morning. There is still a little more to go to feel comfortable but while the 1.0795-1.0825 range continues to support I shall prefer a scenario that breaks above the 1.0873 high seen already this morning and onto 1.0890 and the 1.0932 corrective high. Although I feel this should move as far as 1.0968 minimum it would be wise to just be careful around 1.0932. Above 1.0970 extends gains back to the 1.1021 high but should hold if seen. Note next resistance at 1.1074.
Medium Term Bullish
25th June: Yesterday's recovery from the support area indicated was far more aggressive than expected but does open up the larger rally. Still, I feel we shall probably get better buying levels around 1.0826-60 which should then spur the next rally above 1.1265.
Cautiously I feel we have seen the lowest in this correction. However, there could still be a risk that we'll see a complex correction - and given the situation in EURUSD I feel this is likely. Thus, while the 1.0968-1.1021 area caps we could either see a triangle develop (from 1.0968) or possibly a flat sideways correction from 1.1021. At the most an irregular correction could see a rally as high as 1.1074. Thus, keep these resistance levels in mind when looking for selling opportunities. Only loss of 1.0761-94 would cause a deeper decline to 1.0723 at least. Then note support at 1.0675 and the 1.0631 low...
Medium Term Bearish
25th June: Great, the downside threat has been averted and now only back below 1.0760 would concern and suggest a retest of the 1.0590-1.0620 area.
For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the report are now available on the Daily Forecast page of my web site.
Published on Mon, Jun 29 2009, 03:38 GMT
FX-Forecaster
| 2-42-23 #203 Uehara, Shibuya-ku, Tokyo, 151-0064, Japan
http://www.fx-forecaster.com | info@fx-forecaster.com
Forex Daily Analysis - USDJPY is moving towards support level at 89.55 by Investija.com
Fri, Nov 6 2009, 14:35 GMT
Forex Technical Report - U.S. Markets Brace for Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:29 GMT
Technical Major Currencies Report - Technical Major Currencies Midday Report by ecPulse.com
Fri, Nov 6 2009, 13:11 GMT
Commodities Daily - Most commodities have risen a little overnight. by Danske Bank A/S
Fri, Nov 6 2009, 13:08 GMT
Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Fri, Nov 6 2009, 12:29 GMT
Forex: USD/CHF jumps to test 1.0200 following Non-Farm payrolls data
FXstreet.com | Fri, Nov 6 2009, 14:04 GMT
Switzerland Oct Unemployment Rate s.a. remains unchanged at 4.1%
FXstreet.com | Fri, Nov 6 2009, 06:48 GMT
Forex: USD/CHF in ranges between 1.0125 and 1.0190
FXstreet.com | Thu, Nov 5 2009, 20:41 GMT
Forex: USD/CHF finds support at 1.0125, back to 1.0180
FXstreet.com | Thu, Nov 5 2009, 17:56 GMT
Switzerland Consumer Price Index increases 0.6% in October; 0.8% dwn on year
FXstreet.com | Thu, Nov 5 2009, 08:16 GMT
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program