3 Feb 2015
USD/CHF upside bias remains – AceTrader
FXStreet (Barcelona) - The AceTrader Team gives the technical outlook for USD/CHF, noting that the upside bias for the pair remains, suggesting to buy on dips as long as the pair trades above 0.9167-70 levels.
Key Quotes
“Looking at the hourly n daily charts, although price has retreated after Mon's rally abv last Fri's high at 0.9289 to 0.9347 n 1-2 days of consolidation is envisaged, as aforesaid rise signals the upmove fm Jan's 40-month trough at 0.7360 has resumed, upside bias remains.”
“Abv 0.9347 wud retain bullishness for further gain twd 0.9396/00 (70.7% r of the entire fall fm 1.0240-0.7360 n psychological res respectively), however, as broad outlook remains consolidative, reckon price wud hold well below 0.9475 (80.9% projection of 0.8500-0.9167 measured fm 0.8935) this week n yield correction.”
“On the downside, only below 0.91189 (38.2% r of 0.8935-0.9346) signals temporary top is made, n yield stronger retracement twd 0.9167 (previous res, now sup).”
“Today, we're standing ahead initially n wud buy dlr on dips as only below 0.9167-70 wud risk stronger retracement of recent upmove to 0.9116/20.”
Key Quotes
“Looking at the hourly n daily charts, although price has retreated after Mon's rally abv last Fri's high at 0.9289 to 0.9347 n 1-2 days of consolidation is envisaged, as aforesaid rise signals the upmove fm Jan's 40-month trough at 0.7360 has resumed, upside bias remains.”
“Abv 0.9347 wud retain bullishness for further gain twd 0.9396/00 (70.7% r of the entire fall fm 1.0240-0.7360 n psychological res respectively), however, as broad outlook remains consolidative, reckon price wud hold well below 0.9475 (80.9% projection of 0.8500-0.9167 measured fm 0.8935) this week n yield correction.”
“On the downside, only below 0.91189 (38.2% r of 0.8935-0.9346) signals temporary top is made, n yield stronger retracement twd 0.9167 (previous res, now sup).”
“Today, we're standing ahead initially n wud buy dlr on dips as only below 0.9167-70 wud risk stronger retracement of recent upmove to 0.9116/20.”