USD/CHF Watch for Bullish Action Around 0.9164

Doug Rosen

By: Doug Rosen

USD looks stronger than ever.  Looking at this pair on the weekly chart the USD looks very bullish.  Continues totrid the 5 ema's, the upper Bollinger Band has opened up to let price flow out and it has broken the 55 ema already. 

 USD/CHF daily Analysis, October 07, 2011

I expect a reaction around 0.9438 since that is the 50.0 Fib Level of the recent move down.  Looking at the daily chart the upper Bollinger Band is wide open and pointing up as well and price is perfectly riding up the daily the 5 ema. 

 USD/CHF 4hour Analysis, October 07, 2011

Moving over to the 4 hour chart I see that the 38.2 Fib level overlaps with the monthly and weekly  R1 as well as the lower 1 hour Bollinger Band and the 144 ema. 

 USD/CHF 1hour Analysis, October 07, 2011

The 0.9164 area would be an excellent area to consider a long and to correlative this support with EUR/USD resistance.  Be cautious while trading this pair today since it is the U.S. Non-Farm Payroll coming up in just a few hours.

Doug Rosen
Doug Rosen is a Florida-based Forex trader who became a skilled technical trader through 3 years of intense practice and self-teaching. He now coaches a live trading room and analyzes the market on forextradeplans.com.

Did you like what you read? Let us know what you think!

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

0 User comments

exclamation mark

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed.

Read more
Add new comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.