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EURCHF: Bears Take Control, Weakens.
EURCHF – With the cross capping its recovery gains at the 1.2345 level, its July 04’2011 high and the bears now in control for a fourth day in a row, further weakness is likely to be seen. This will leave its Jun 26’2011 low at 1.1805 as the next downside target where a decisive break will call for further declines towards the 1.1700 level and the 1.1600 level, all representing its psycho levels. Its daily RSI is bearish and pointing lower suggesting further weakness. Alternatively, EURCHF will have to break and hold above the 1.2345 level to annul its present weakness and bring further strength towards the ... (full story)
