Market Opinion
This report has been deactivated

7

0
Dollar bullish vs Swiss.
Fri, Jan 16 2009, 06:57 GMT
by James Whyte
ForexAmericas
In the news:
Today the Dow dipped below 8000 at mid day trading, however it was able to regain its losses and end the day marginally flat. The bounce was loosely based on a technical level. Bank of America will receive $20 billion in aid from the TARP fund. Oil traded lower today and it's poised for a further decline this month, after OPEC comments demand will drop as a global recession is more evident.
USD/CHF:
Our focus today is the Dollar Swiss chart. This pair has been trading in a 160 pip range give or take for the past week. We see a bullish trend developing in the pair, with support on a trend line coming in at 1.1144. The 61.8% Fibonacci retracement has also shown to be supporting the dollar swiss around the 1.1119 level. (Fibonacci parameters are; high of 1.1277 on Jan. 6, 2008 and a low of 1.0863 on Jan. 8, 2008). Resistance is holding at 1.1288, which is slightly above the 100% Fibonacci retracement. We believe the 1.1288 resistance level should hold for the remainder of the week, given the previous bottoms at this level back in mid October 2008. Economic events to lookout for in todays trading for this pair are; Swiss PPI m/m (forecast -.6%), and out of the U.S Core CPI, TIC Long Term Purchases and consumer sentiment in early New York.

Published on
Fri, Jan 16 2009, 07:04 GMT
Archive
- Euro falls following Trichet's comments.
Published On Fri, Mar 6 2009, 04:59 GMT
- U.S. Dollar advances vs. Yen.
Published On Thu, Mar 5 2009, 04:54 GMT
- Dow dips to 12-year lows.
Published On Tue, Mar 3 2009, 06:29 GMT
- Dollar index climbs to new highs.
Published On Sat, Feb 28 2009, 00:49 GMT
- Dollar near 3-month highs.
Published On Mon, Feb 23 2009, 22:50 GMT
[ View All ]
ForexAmericas
| 5141 Cheryl Drive Huntington Beach, CA 92649
http://www.forexamericas.com/ | info@forexamericas.com
Legal disclaimer and risk disclosure
Any opinions, news, research, analyses, prices, or other information contained on this website or in our newsletters is provided as general market commentary, and does not necessarily constitute investment advice. The ForexAmericas, JW Corp., its affiliates and agents 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.
Related reports
Daily Market Report - Greenback is starting the new week on a soft note by Wells Fargo Investments, LLC
Mon, Nov 23 2009, 14:59 GMT
Forex Technical Report - Gold Surges as Dollar is Unable to Follow-Through to Upside by ForexHound.com
Mon, Nov 23 2009, 14:45 GMT
Forex Technical Report - Euro Up Big on Speculation U.S. Economy Will Weaken by ForexHound.com
Mon, Nov 23 2009, 14:44 GMT
Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Mon, Nov 23 2009, 14:24 GMT
Forex Market Alerts - US Chart NYMEX Jan Crude Oil Update: Bounce unlikely to produce breakout by FXMarketAlerts
Mon, Nov 23 2009, 14:03 GMT
indicator, us, switzerland, usdchf
View All
Related content
Stocks consolidates gains; Dollar holds near intra-day low
FXstreet.com | Mon, Nov 23 2009, 19:35 GMT
Forex: USD/CHF consolidates low levels below 1.0100
FXstreet.com | Mon, Nov 23 2009, 17:57 GMT
Dollar favoured as on better than expected existing home sales
FXstreet.com | Mon, Nov 23 2009, 15:17 GMT
Table of Data On Existing US Home Sales
Dow Jones | Mon, Nov 23 2009, 15:12 GMT
US Existing Home Sales rise 10.1% to 6.1M in Oct
FXstreet.com | Mon, Nov 23 2009, 15:01 GMT
indicator, us, switzerland, usdchf
View All
Trading for a living » Some moves before CPI
Wed, Nov 18 2009, 09:46 GMT
The Advisor Weblog » Majors’s hourly perspective pre American session
Mon, Nov 16 2009, 15:46 GMT
The Advisor Weblog » Hourly perspective pre American opening
Fri, Nov 13 2009, 15:04 GMT
Tech Trading » USD/CHF Moves away from parity
Fri, Nov 13 2009, 11:40 GMT
The Advisor Weblog » U.S. data halt dollar rally
Thu, Nov 12 2009, 15:30 GMT
indicator, us, switzerland, usdchf
View All
FX Instructor Live Trading Room
Mark De La Paz | Tue, Sep 30 2008, 11:00 GMT 
FX Instructor Live Trading Room
Mark De La Paz | Wed, Oct 1 2008, 09:00 GMT
SPECIAL EVENT: Trade Non-Farm Payrolls LIVE - 29th Edition
Wayne McDonell | Fri, Oct 3 2008, 11:30 GMT
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Oct 6 2008, 16:00 GMT
Back to Basics: RSI
Adam Rosen | Mon, Oct 13 2008, 13:00 GMT
indicator, us, switzerland, usdchf
View All
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
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.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.