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#1 ⇑ Haut ⇑ 03-09-2012 09:15:29
- Bruno
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USD/CHF : Test of the major support at 0.95
Last friday, a new bearish wave occured on the pair USD/CHF who has tested our last objective, the support at 0.95. This level is a psychological level and could lead to a rebound of the pair on the short term.
However, we continue to advise short positions as far as 0.9624 is resistance. Several elements are going to the way of a pursuit of the bearish movement:
- Bearish slant in h4 (purple line)
- Bearish channel in h1 (black lines).
The breakout of 0.95 will give a new sell signal and will open the way towards 0.9450 and 0.94.
In case of return above 0.9624, we will be neutral between this level and 0.97.
However, we continue to advise short positions as far as 0.9624 is resistance. Several elements are going to the way of a pursuit of the bearish movement:
- Bearish slant in h4 (purple line)
- Bearish channel in h1 (black lines).
The breakout of 0.95 will give a new sell signal and will open the way towards 0.9450 and 0.94.
In case of return above 0.9624, we will be neutral between this level and 0.97.
USD/CHF 4h chart
USD/CHF 1h chart
Last analysis on USD/CHF : USD/CHF : A descending triangle is shaping
#2 ⇑ Haut ⇑ 10-09-2012 09:23:54
- Bruno
- Trader, Analyst and webmaster for Forex-Tribe
- Registered: 07-12-2008
- Posts: 21176
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Re: USD/CHF : Test of the major support at 0.95
At the beginning of the last week, the pair USD/CHF made a pullback on 0.96 before a new bearish wave which led the price below the major support at 0.95 (new sell signal). Currently, the pair is testing the next support at 0.9450.
In h4, the price is still moving below its bearish slant (purple line). In h1, the pair got back into its bearish channel (black lines). We continue to advise short positions as far as 0.9580 is resistance. The breakout of 0.9450 will give a new sell signal and will open the way towards 0.94 and 0.9350.
In case of return above 0.9580, we will be neutral between this level and 0.9624.
In h4, the price is still moving below its bearish slant (purple line). In h1, the pair got back into its bearish channel (black lines). We continue to advise short positions as far as 0.9580 is resistance. The breakout of 0.9450 will give a new sell signal and will open the way towards 0.94 and 0.9350.
In case of return above 0.9580, we will be neutral between this level and 0.9624.
USD/CHF 4h chart
USD/CHF 1h chart
#3 ⇑ Haut ⇑ 12-09-2012 09:15:53
- Bruno
- Trader, Analyst and webmaster for Forex-Tribe
- Registered: 07-12-2008
- Posts: 21176
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Re: USD/CHF : Test of the major support at 0.95
The pair USD/CHF has continued its bearish movement and the breakouts of 0.9450 and 0.94 both gave us a new sell signal. In h1, the price is still moving into its bearish channel (black lines). In h4, the pair is currently testing the lower band of the bearish channel (purple lines).
We continue to advise short positions as far as 0.95 is resistance. The breakout of 0.9350 will give a new sell signal and will allow the pair to pursuit its bearish movement towards the support at 0.93.
In case of return above 0.95, we will be neutral between this level and 0.9623.
We continue to advise short positions as far as 0.95 is resistance. The breakout of 0.9350 will give a new sell signal and will allow the pair to pursuit its bearish movement towards the support at 0.93.
In case of return above 0.95, we will be neutral between this level and 0.9623.
USD/CHF 4h chart
USD/CHF 1h chart
