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USD/CHF Emerging Signal

admin — Mon, 26 Sep 2011 21:36:39 +0000

The pair is still trading positively, affected by the mentioned harmonic structure, while the pair is currently trading above the structure’s first target, which represents 38.2% Fibonacci correction at 0.8850. Therefore, the upside move could extend this week; however, a downside correction is possible before the pair rebounds to the upside.

The trading range for this week is among the major support at 0.8850 and the major resistance at 0.9400.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400

Support: 0.9035, 0.8920, 0.8880, 0.8850, 0.8780
Resistance: 0.9150, 0.9190, 0.9230, 0.9335, 0.9400

Recommendation Based on the chart and explanations above, we recommend buying the pair around 0.9035, and take profit in stages at (0.9230 and 0.9400) and stop loss with daily closing below 0.8920 might be appropriate.

USD/CHF Emerging Signal

admin — Thu, 22 Sep 2011 22:15:38 +0000

The pair rushed to the upside to breach the critical 0.8920 negating the harmonic butterfly pattern mentioned in our previous reports. For now, we see the path clear to extend the intraday bullishness within the correctional formation for the last downside wave from 1.1730 to 0.7074, especially with stability above 38.2% Fibonacci correction. A positive formation is seen over daily basis where the pair breached its neckline at 0.8930 supporting by that our positive expectations for today. Targets are mainly at 0.9390 and require stability above 0.8920.

The trading range for today is among the major support at 0.8835 and the major resistance at 0.9390.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Support: 0.90000, 0.8930, 0.8835, 0.8780, 0.8750
Resistance: 0.9040, 0.9120, 0.9180, 0.9245, 0.9295

Recommendation Based on the charts and explanations above we recommend buying the pair around 0.8930 targeting 0.9120 and 0.9245 and stop loss with four-hour closing below 0.8835 might be appropriate

USD/CHF Emerging Signal

admin — Wed, 21 Sep 2011 23:36:17 +0000

The pair is currently trading around the potential reversal zone of the Butterfly pattern at 0.8920 in attempts to breach this level. But, observing momentum indicators, we find they are ready to reverse negatively. Furthermore, consolidation below the psychological level at 0.9000 could force the pair to reverse to the downside. We hold onto our negative expectations, supported by the bearish harmonic structure, but stability above 0.8920 suggests the upside move to extend towards 0.9105.

The trading range for today is among the major support at 0.8460 and the major resistance at 0.9105.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Support: 0.8850, 0.8820, 0.8780, 0.8750, 0.8675
Resistance: 0.8990, 0.9000, 0.9040, 0.9105, 0.9180

Recommendation Based on the chart and explanations above, we recommend selling the pair around 0.8920, and take profit in stages at (0.8640 and 0.8540) and stop loss above 0.9040 might be appropriate today.

USD/CHF Emerging Signal

admin — Tue, 20 Sep 2011 01:59:05 +0000

The pair rebounded slightly to the upside after reaching 23.6% Fibonacci correction of the Butterfly harmonic pattern, while Stochastic is turning positive. But, consolidation below the pattern’s potential reversal zone at 0.8920 supports the return of the downside movement, especially after the pair failed to achieve any of the pattern’s targets, which begin with 38.2% Fibonacci correction at 0.8460. The Relative Strength Index is close to oversold areas, which confirms our expectations.

The trading range for this week is among the major support at 0.8320 and the major resistance at 0.9190.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Support: 0.8780, 0.8750, 0.8640, 0.8605, 0.8535
Resistance: 0.8850, 0.8920, 0.9000, 0.9040, 0.9105

Recommendation Based on the chart and explanations above, we recommend selling the pair around 0.8850, and take profit in stages at (0.8640 and 0.8460) and stop loss with daily closing above 0.9000 might be appropriate

USD/CHF Emerging Signal

admin — Wed, 14 Sep 2011 19:10:15 +0000

The pair is still stable below 0.8920 and 0.8850, which should support the suggested Butterfly harmonic pattern remain valid, awaiting the test of the primary targets of this structure at 0.8460. Therefore, we expect an intraday downside movement today as long as the pair is stable below 0.8920.

The trading range for today is among the major support at 0.8540 and the major resistance at 0.9105.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Support: 0.8780, 0.8750, 0.8675, 0.8640, 0.8585
Resistance: 0.8820, 0.8845, 0.8920, 0.8990, 0.9040

Recommendation Based on the chart and explanations above, we recommend selling the pair around 0.8820, and take profit in stages at (0.8640 and 0.8540) and stop loss with 4-hour closing above 0.8950 might be appropriate today

USD/CHF Emerging Signal

admin — Tue, 13 Sep 2011 18:45:54 +0000

The pair declined after reaching around 0.8920 and stabilized below 0.8850, which suggests the completion of the Butterfly harmonic structure. Consolidation below these levels suggests a test of the first target of the harmonic structure at 0.8460 at least, but we should pay attention to the technical barrier at 0.8640. These suggested levels represent 38.2% and 23.6% Fibonacci correction respectively. Stability above 0.8920 weakens the possibility of the downside movement.

The trading range for today is among the major support at 0.8540 and the major resistance at 0.9105.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Support: 0.8780, 0.8750, 0.8675, 0.8640, 0.8585
Resistance: 0.8820, 0.8845, 0.8920, 0.8990, 0.9040

USD/CHF Emerging Signal

admin — Mon, 12 Sep 2011 21:44:02 +0000

The suggested harmonic structure derived from the Deep Crab pattern (which differs from the ideal pattern by reaching 200% correction of CD leg) supported the pair to reach the first target at 0.8850. Currently, the pair is trading slightly above the mentioned level, and according to the harmonic analysis, this could lead the pair to extended the upside movement towards 61.8% Fibonacci correction at 0.9950. But, the long candle seen during the past week could cause a downside correction before the awaited incline, which could lead the pair to trade below the mentioned target. Therefore, we remain neutral today and also recommend reviewing our coming reports.

The trading range for this week is among the major support at 0.8170 and the major resistance at 0.9400.

The short-term trend is to the upside with steady weekly closing above 0.8020 targeting 0.9400.

Support: 0.8850, 0.8780, 0.8750, 0.8675, 0.8605
Resistance: 0.8900, 0.8945, 0.9000, 0.9105, 0.9190

Recommendation Based on the charts and explanations above we remain neutral awaiting more confirmations

USD/CHF Emerging Signal

admin — Wed, 07 Sep 2011 17:14:06 +0000

As shown upon the chart, the bullish harmonic structure was able to stop the downside correction, which was expected this week. Currently, the pair approaches the pattern’s first target, while we suggest an upside move to reach this target, which represents 38.2% Fibonacci correction of the CD leg of the harmonic structure at 0.8855. However, high risk-to-return ratio is associated with our expectations and heavy fluctuations are expected today. ADX attempts to enter an ascending channel on the medium and long-term timeframes.

The trading range for today is among the major support at 0.8020 and the major resistance at 0.8920.

The short-term trend is to the upside with steady weekly closing above 0.6980 targeting 0.8815.

Support: 77 0.8385, 0.8350, 0.8235, 0.8170
Resistance: 0.8600, 0.8680, 0.8720, 0.8855, 0.8920

Recommendation Based on the chart and explanations above, we recommend buying the pair above 0.8350, and take profit in stages at (0.8550 and 0.8855) and stop loss with 4-hour closing below 0.8170 might be appropriate today.

USD/CHF Emerging Signal

admin — Thu, 01 Sep 2011 14:00:23 +0000

Observing the daily chart, the decline seen yesterday is seen as a retest of the descending channel’s main resistance, which turned into support after it was breached. Moreover, the pair is currently stable above the moving averages 20 and 50, and also above the middle line of Bollinger band. All those signs argue us to expect that, the upside movement could return today, after the pair retested the level of 0.8020. Stochastic is negative, where stability above 0.8120 could unload the negativity seen on it.

The trading range for today is among the major support at 0.7875 and the major resistance at 0.8250.

The short-term trend is to the upside with steady weekly closing above 0.6980 targeting 0.8815.

Support: 0.8020, 0.7970, 0.7925, 0.7900, 0.7875
Resistance: 0.8080, 0.8120, 0.8165, 0.8215, 0.8250

Recommendation Based on the chart and explanations above, we recommend buying the pair around 0.8020, and take profit in stages at (0.8120 and 0.8215) and stop loss with 4-hour closing below 0.7900 might be appropriate.

USD/CHF Emerging Signal

admin — Thu, 01 Sep 2011 00:25:04 +0000

As shown above on the chart, 78.6% Fibonacci correction stopped the pair’s positive momentum, while momentum indicators are negatively biased. But, the exponential moving averages 20 and 50 are still trading positively.Thus, the Positivity remains valid today, while a breach of 0.8215 should confirm the bullish wave, which could push the pair towards 0.8360 zones.

The trading range for today is among the major support at 0.8020 and the major resistance at 0.8360.

The short-term trend is to the upside with steady weekly closing above 0.6980 targeting 0.8815.

Support: 0.8120, 0.8080, 0.8020, 0.7970, 0.7900
Resistance: 0.8215, 0.8250, 0.8280, 0.8360, 0.8385

Recommendation Based on the chart and explanations above, we recommend buying the pair around 0.8215, targeting 0.8360 and stop loss with 4-hour closing below 0.8120 might be appropriate.