#USDCHF Daily Outlook

#USDCHF Daily Outlook

  8/01/2014 05:25:00 PM    Unknown

---

A temporary top is in place at 0.9106 in USD/CHF and intraday bias is turned neutral first. Some consolidations would be seen but downside should be continued by 0.9034 support and bring rally resumption. Above 0.9106 will target 0.9156 key resistance next. Break will indicate medium term reversal. On the downside, below 0.9064 minor support will turn bias neutral and bring consolidations before staging another rally.

In the bigger picture, price actions from 0.9971 are viewed as a correction pattern. The break above 55 week EMA argues that it might be finished at 0.8698 already. Focus is back on 0.9156 resistance. Decisive break there should confirm this case and turn outlook bullish for a test on 0.9971 high. Meanwhile, break of 0.8855 near term support will dampen this bullish view and would extend the correction to 50% retracement of 0.7065 to 0.9971 at 0.8518 and below. In that case, we'll start to look for reversal signal below 0.8518 again.

source

http://www.actionforex.com/action-insight/usdchf-outlook/usd%10chf-daily-outlook-20140801221513/

Read More

USD/CHF Daily Outlook

USD/CHF Daily Outlook

  7/31/2014 02:05:00 PM    Unknown

---

Intraday bias in USD/CHF remains on the upside for the moment. Current rally from 0.8698 is still in progress and should target 0.9156 key resistance next. Break will indicate medium term reversal. On the downside, below 0.9064 minor support will turn bias neutral and bring consolidations before staging another rally.

In the bigger picture, price actions from 0.9971 are viewed as a correction pattern. The break above 55 week EMA argues that it might be finished at 0.8698 already. Focus is back on 0.9156 resistance. Decisive break there should confirm this case and turn outlook bullish for a test on 0.9971 high. Meanwhile, break of 0.8855 near term support will dampen this bullish view and would extend the correction to 50% retracement of 0.7065 to 0.9971 at 0.8518 and below. In that case, we'll start to look for reversal signal below 0.8518 again.

Read More

USD/CHF Mid-Day Outlook

USD/CHF Mid-Day Outlook

  7/31/2014 12:04:00 AM    Unknown

---

USD/CHF's rally accelerates to as high as 0.9100 so far in early US session. The rise from 0.8698 is still in progress and intraday bias remains on the upside for 0.9156 key resistance next. Break will indicate medium term reversal. On the downside, below 0.9064 minor support will turn bias neutral and bring consolidations before staging another rally.

In the bigger picture, price actions from 0.9971 are viewed as a correction pattern. The break above 55 week EMA argues that it might be finished at 0.8698 already. Focus is back on 0.9156 resistance. Decisive break there should confirm this case and turn outlook bullish for a test on 0.9971 high. Meanwhile, break of 0.8855 near term support will dampen this bullish view and would extend the correction to 50% retracement of 0.7065 to 0.9971 at 0.8518 and below. In that case, we'll start to look for reversal signal below 0.8518 again.










http://www.actionforex.com/action-insight/usdchf-outlook/usd%10chf-mid-day-outlook-20140730221361/

Read More

USD/CHF Elliott Wave Analysis

USD/CHF Elliott Wave Analysis

  7/30/2014 02:08:00 PM    Unknown

---

The greenback finally broke above previous resistance at 0.9037, adding credence to our view that the erratic rise from 0.8699 low is still in progress for retracement of early decline to resistance at 0.9082, a daily close above there would signal recent decline has ended earlier at 0.8699, bring a stronger rebound towards tough resistance at 0.9192-0.9201 later, only a sustained breach above there would reinforce this bullish scenario.

Our preferred count on the daily chart is that early selloff to 0.9630 is an end of the larger degree wave III and major correction is unfolding from there with a leg ended at 1.2298 (Nov 2008 with (a): 1.0625, (b):1.0011 and (c):1.2298), wave b ended at 0.9910 with (a): 1.0370, (b): 1.1967, (c): 0.9910. The rise from there to 1.1730 is the wave c which also marked the end of wave IV and wave V has possibly ended at 0.7068.

On the downside, expect pullback to be limited to 0.8970-80 and bring another rise to aforesaid upside targets. Only a break below support at 0.8898 would abort and suggest top is possibly formed instead, risk test of support at 0.8856, a break of this level would shift risk to downside and suggest the rebound from 0.8699 has ended instead, risk weakness to minor support at 0.8800, however, downside should be limited to 0.8750 and support at 0.8699 should holdon first testing. A drop below said support at 0.8699 would signal recent decline has resumed as the wave c of larger degree wave B and extend the fall from 0.9972 top for a stronger correction of early major rise from 0.7068 to 0.8600 and then 0.8550.

Recommendation: Hold long entered at 0.8910 for 0.9110 with stop below 0.8910.

Dollar's long-term downtrend started from 2.9343 (Feb 1995) and it was unfolding as a (A)-(B)-(C) with (A): 1.1100, (B): 1.8310 (26 Oct 2000), then followed by another impulsive wave (C) with wave III ended at 0.9630 (Mar 2008). Under this count, correction in wave IV has possibly ended at 1.1730 and wave V already broke below support at 0.9630 and met indicated downside target at 0.7500 and 0.7400. The reversal from 0.7068 suggests the wave V has possibly ended and the breach of resistance at 0.9595 add credence to this view and further gain towards psychological resistance at 1.0000 would be seen later.

Read More

USDCHF Daily Outlook

USDCHF Daily Outlook

  7/30/2014 02:04:00 PM    Unknown

---

Intraday bias in USD/CHF remains on the upside. Current rally from 0.8698 is still in progress for 0.9156 key resistance. Break will indicate medium term reversal. On the downside, below 0.9034 minor support will turn bias neutral and bring retreat. But outlook will stay bullish as long as 0.8958 resistance turned support holds.

In the bigger picture, price actions from 0.9971 are viewed as a correction pattern. the break above 55 week EMA argues that it might be finished at 0.8698 already. Focus is back on 0.9156 resistance. Decisive break there should confirm this case and turn outlook bullish for a test on 0.9971 high. Meanwhile, break of 0.8855 near term support will dampen this bullish view and would extend the correction to 50% retracement of 0.7065 to 0.9971 at 0.8518 and below. In that case, we'll start to look for reversal signal below 0.8518 again.

Read More