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February 4, 2013

Weekly forex post – USD/CHF 4th – 9th February ,2013

Posted by: FreeForexSignal.com @ 04:18 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
0.9274 0.9292 0.9019 0.9077 -0.0183
Weekly Support and Resistance
Resistance
Support
R3 0.9360
R2 0.9180
R1 0.9140
   
S1 0.9000
S2 0.8925
S3 0.8875

The US dollar extended its losses for the second successive week, to close lower by 1.97%. The pair failed to hold on the 0.9140- 0.9150 levels and slipped to the bottom of the near- term bearish channel before bouncing back. The near- term trend remains bearish with major support at 0.9000, while resistances are placed at 0.9140- 0.9180, break of which the pair can rally to 0.9350- 0.9375

usdchf weekly chart

Trend direction

  • Short, Medium and long term trend- Bearish

Recommendations

  • Long:
    • Long USD/CHF at 0.9000, S/L- 0.8950, P/T- 0.9140
    • Long at 0.9230, S/L- 0.9170, P/T-0.9325
  • Short:
    • Short USD/CHF at 0.9180 with a stop loss at 0.9230 for a profit target of 0.9050
Post ID: 3751
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