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January 28, 2013

Weekly forex post – USD/CHF 28th January – 02nd February ,2013

Posted by: FreeForexSignal.com @ 03:30 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
0.9347 0.9354 0.9219 0.9260 -0.0089
Weekly Support and Resistance
Resistance
Support
R3 0.9600
R2 0.9525
R1 0.9400
   
S1 0.9200
S2 0.9150
S3 0.9000

USD/CHF ended the week with losses of 0.95%. The greenback failed to hold on to the previous week’s gains and slipped lower after unable to close above the top end of the bearish mid- term channel at 0.9400, suggesting some more weakness in the near- term.

usdchf weekly

Trend direction

  • Short term trend- Bullish, Medium and long term trend- Bullish

Recommendations

  • Long:
    • Long USD/CHF at 0.9150 with a stop loss at 0.9090 for a profit target of 0.9350
    • Long USD/CHF also at 0.9450 with a stop loss at 0.9390 for a profit target of 0.9575
  • Short:
    • Short USD/CHF at 0.9425 with a stop and reverse at 0.9450 for a profit target of 0.9250
Post ID: 3652
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