Tuesday January 20, 2009 - 16:24:12 GMT
FX Solutions - www.fxsol.com
Share This Story:
|
|
Email
Chart of the Day - 1/20/2009 - USD/CHF
(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend line in red; 50-period simple moving average in light blue.)
1/20/2009 – USD/CHF – So far this week, dollar bulls have been relentless against the European currencies, and the USD/CHF (a daily chart of which is shown) has been no different. Price action on Monday and Tuesday has shown remarkable gains that easily broke substantial resistance around 1.1280. Currently price has risen well above this level to reach yet another resistance level in the 1.1480 region. Any substantial break and close above this level could target further resistance in the 1.1800 region. Before that potentially occurs, however, price should either consolidate or retrace, at least back to the steep uptrend support line that has been forming since the beginning of the year.
James Chen
Chief Technical Strategist
FX Solutions
IMPORTANT NOTICE: These comments are for information purposes only. The information contained on this document does not constitute a solicitation to buy or sell by FX Solutions, LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors.
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
here.
Forex News
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Forex Forum RSS Feed
RSS News Feed