3 Feb 2015
EUR and USD against CHF – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, gives the technical outlook for EUR/CHF and USD/CHF, noting that the former remains bid above 1.0350.
Key Quotes
“USD/CHF continues to grind slowly higher and the market remains capable of gains towards the .9608/78.6% retracement of the sharp sell off. Note we are trading in the confines of an upchannel.”
“The market stays bid above .9080/00 this guards .8835/25. Support 0.8835/.8767 guards the .8452 16th January low.”
“Current Position: Square. Recommended Trade: Buy at market , add .9250, stop .9230. Exit .9600.”
“Shorter term (1-3 weeks): Downside bias below .9128/.9608”
“EUR/CHF is bid near term above 1.0350, and we continue to look for gains to the 1.0600/70 region – this is the 61.8% retracement of the sell off.”
“It is possible that 1.0670 (61.8% retracement) will hold the initial test, but only below 1.0350 will attention revert to 1.0222, 1.0080. Above 1.0670 will introduce scope to 1.1003, 1.1255.”
Key Quotes
“USD/CHF continues to grind slowly higher and the market remains capable of gains towards the .9608/78.6% retracement of the sharp sell off. Note we are trading in the confines of an upchannel.”
“The market stays bid above .9080/00 this guards .8835/25. Support 0.8835/.8767 guards the .8452 16th January low.”
“Current Position: Square. Recommended Trade: Buy at market , add .9250, stop .9230. Exit .9600.”
“Shorter term (1-3 weeks): Downside bias below .9128/.9608”
“EUR/CHF is bid near term above 1.0350, and we continue to look for gains to the 1.0600/70 region – this is the 61.8% retracement of the sell off.”
“It is possible that 1.0670 (61.8% retracement) will hold the initial test, but only below 1.0350 will attention revert to 1.0222, 1.0080. Above 1.0670 will introduce scope to 1.1003, 1.1255.”