Sunday, January 5, 2014

USDCHF Weekly Analysis 6th Jan to 10th Jan 2014

This pair has been trending downward from early July 2013 with various lower highs and lower lows. The recent swing forming early november of last year from 0.9250 now moving to 0.9050 resistance formed by the long trendline
If price breaks above the trendline, It could gather momentum to push up 0.9250 and if broken further, could see price at 0.9450 (50% retracement) which will terminate the long term bearish trend ( I don't really see it going that far, but who am I to dictate what market want to do....The success in this business lies in identifying the market's next move early and following immediately with proper money management)

usd/chf daily analysis 

Conversely, the market could bounce off this level with a reversal candles formation which could make the market complete another swing...we should be expecting price at 0.8800 (100% extension), 0.8260(127%extension) and 0.8530(161.8%)

I will keep you updated as this trade unfolds

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