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January 21, 2013

Weekly forex post – USD/CHF 21th – 27th January ,2013

Posted by: FreeForexSignal.com @ 00:53 GMT Category: Signals,USD/CHF,Weekly Forex

Technical view – USD/CHF

USD/CHF this week

SPOT USD/CHF Previous week OHLC
Open High Low Close Change
0.9136 0.9389 0.9115 0.9349 0.0216
Weekly Support and Resistance
Resistance
Support
R3 0.9600
R2 0.9525
R1 0.9425
   
S1 0.9300
S2 0.9225
S3 0.9125

USD/CHF rallied last week to close at 2- month highs, gaining 2.36% week-on-week. The near- term trend remains bullish with major resistance at 0.9425; top end of the mid- term bearish channel, and a close above, expect a quick rally to 0.9600. Supports placed at 0.9300 and 0.9225. Long positions should be initiated only if the pair closes above 0.9425 or breaks it significantly.

usdchf weekly chart

Trend direction

  • Short term trend – Bullish
  • Medium and long term trend- Bearish

Recommendations

  • Short:
    • Short USD/CHF at 0.9425 with a stop loss at 0.9480 for a profit target of 0.9250.
  • Long:
    • Long USD/CHF at 0.9480 with a stop loss at 0.9410 for a profit target of 0.9600
Post ID: 3573
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