Daily Technical Outlook & Trading Ideals on USD/CHF : Aug 27, 2014

  DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 27 Aug 2014 00:08GMT

Trend Daily Chart
Up

Daily Indicators
Rising

21 HR EMA
0.9166

55 HR EMA
0.9155

Trend Hourly Chart
Up

Hourly Indicators
Bearish divergences

13 HR RSI
65

14 HR DMI
+ve

Daily Analysis
Marginal rise b4 retreat

Resistance
0.9251 - Nov 07 (2013)
0.9202 - 80.9% proj. of 0.9024-0.9146 fm 0.9104
0.9181 - Y'day's 9-month high

Support
0.9138 - Y'day's low
0.9104 - Last Fri's low
0.9088 - Last Wed's low


. USD/CHF - 0.9178... Despite initial dlr's decline fm 0.9164 (Asia) to
0.9138 at European open due to intra-day rebound in eur/usd, renewed weakness in
euro plus rebound in eur/chf cross helped the pair ratchet higher, dlr later
climbed one tick abv Mon top to a fresh 9-month high of 0.9181 in NY.

. Let's look at the daily picture 1st, y'day's rise to 0.9181 confirms the
3-legged MT upmove fm Mar's near 2-1/2 year bottom at 0.8698 has once again
resumed n further headway to 0.9200/02 (psychological lvl n 80.9% projection of
0.9024-0.9146 measured fm 0.9104 respectively) is seen. Abv said upside targets
wud extend marginally, however, anticipated 'bearish divergences' on the hourly
indicators wud prevent strg gain n reckon price wud hold well below daily res at
0.9251 (Nov '13) n yield a much-needed correction later this week. On the down-
side, only below 0.9104 wud indicate a temporary top has been made n risk stron-
ger retracement twd 0.9058 (last Wed's low), then twds 0.9024 (Aug 15 bottom).

. Today, in view of abv analysis, one can buy dlr on dips for marginal
gain after consolidation or sell on next intra-day upmove in expectation of a
minor correction to take place. Below 0.9138 signals temp. top made, 0.9104/07.