alroughani
عضو نشط
I am trying to view the short-term trend in this currency pair. As you would appreciate, it is closely related to the EUR/USD and EUR/CHF and any economic data in any of these 3 currencies will affect the trend which is trading sideways for the last week.
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USD/CHF (1.2752)
Market is still trading sideways between 1.2715 & 1.2900. Pair is currently holding above the 1.2730 level allowing intraday studies to move higher and further consolidation is expected for now.
On the downside, a break below 1.2715 would see further weakness targeting 1.2670 & 1.2630.
On the upside, a break above 1.2900 would see further upside towards 1.2900 & 1.3000. Daily studies are showing first signs of a positive bias and a break above the 1.2910 level, also the trendline level from the 1.3285 top is needed to confirm this view. Stand aside.
Supports: 1.2715-1.2675-1.2640-1.2600-1.2510-1.2450
Resistances: 1.2800-1.2890-1.2910-1.3060-1.3170-1.3200-1.3235
Market direction: Neutral
[
USD/CHF (1.2752)
Market is still trading sideways between 1.2715 & 1.2900. Pair is currently holding above the 1.2730 level allowing intraday studies to move higher and further consolidation is expected for now.
On the downside, a break below 1.2715 would see further weakness targeting 1.2670 & 1.2630.
On the upside, a break above 1.2900 would see further upside towards 1.2900 & 1.3000. Daily studies are showing first signs of a positive bias and a break above the 1.2910 level, also the trendline level from the 1.3285 top is needed to confirm this view. Stand aside.
Supports: 1.2715-1.2675-1.2640-1.2600-1.2510-1.2450
Resistances: 1.2800-1.2890-1.2910-1.3060-1.3170-1.3200-1.3235
Market direction: Neutral