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Chart Analysis: EUR/CHF
The recent EURCHF sell-off appears to have been a one-day wonder so far, but we suspect that the pair could resume the sell-off in the coming days as the ECB meeting comes and goes. Look for a close back below the 21-day moving average (now around 1.5200) and a retry through the rising trendline as a trigger that the sell-off is ready to resume. Key resistance comes in at the 1.5385 if the top isn't already in here.
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Replies to This Discussion
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Permalink Reply by Anne on -
Current update of this pair provided by my broker.
EUR/CHF intraday: the downside prevails.
Pivot: 1.5075
Our preference: Short positions below 1.5075 with targets @ 1.4995 & 1.493 in extension.
Alternative scenario: Above 1.5075 look for further upside with 1.514 & 1.524 as targets.
Comment: the RSI is badly directed.
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Permalink Reply by princess Todd on -
Thanks for the update Anne...
The currency pair could leave its bearish trend and tested its resistance line at 1.5172. Now it seems the EUR/CHF conglomerate for a new attempt to cross its resistance. This assumes that the supportline at 1.4715 will be stable. The Momentum indicator climbed on its zero level and could give positive impulses.
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Permalink Reply by princess Todd on
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Thanks for the update Anne...
The currency pair could leave its bearish trend and tested its resistance line at 1.5172. Now it seems the EUR/CHF conglomerate for a new attempt to cross its resistance. This assumes that the supportline at 1.4715 will be stable. The Momentum indicator climbed on its zero level and could give positive impulses.
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Permalink Reply by princess Todd on
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14.05.2010: EUR/CHF
1.3998
A long position entered above the line means a lottery ticket. Lottery price is intervention.
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