Thursday, July 29, 2010

USD/CHF



Just getting to know this quiet, not so volatile currency pair USD/CHF, plus the Aussie pairs AUD/USD and AUD/JPY

For intra-day analysis
Price breaks at 1.0588 will have a high probability of a short term bullish
Price breaks below 1.0535 will have a high probability of short term bear
The key in every entry, before entry are: Patience, Momentum and Timing!

In the bigger picture, USD/CHF is possibly in the process of forming a medium term sideway pattern that started as the long term bottom of 0.9634 (2008 low). The pair might continue to stay in converging range of 0.9641/1.2296 for a while. A break of either 0.9916 support or 1.1729 resistance is needed to indicate that USD/CHF is back into a directional trend. Otherwise, medium term outlook will remain neutral.



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