-
USDCHF: Set To Extend Weakness
USDCHF: The risk of a return below the 0.9553 level, its 2011 low is now developing after the pair reversed almost all of its previous week gains to close at 0.8773 on Friday. Prior to its present price action, USDCHF has been recovering since torching a low of 0.8553 following its long term downtrend started from the 1.1727 in May 2010. With that said, on continued weakness, the 0.8553 level will be targeted with a break of there triggering the resumption of its long term downtrend towards the 0.8500 level, its psycho level. A violation of that level will set the stage for further weakness towards the 0.9400 and ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- May 22, 2011 12:21pm May 22, 2011 12:21pm
- diavolul
- Joined May 2010 | Status: Full time trader | 14 Comments
- Comment #2
- Quote
- May 22, 2011 1:17pm May 22, 2011 1:17pm
- chrnbr
- | Joined Oct 2010 | Status: Member | 1 Comment
- Comment #3
- Quote
- May 22, 2011 6:41pm May 22, 2011 6:41pm
- Mohammed Isah
- | Commercial Member | Joined Sep 2006 | 3 Comments