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14 Jan 2015
USD/CHF might move towards 1.0267 – AceTrader
FXStreet (Barcelona) - The AceTrader Team notes that last week’s breach of 1.0217 suggests that USD/CHF’s upmove has resumed and the pair might move towards 1.0232 and then 1.0267 levels.
Key Quotes
“Looking at the hourly n daily charts, dlr's brief breach of last Thur's 4-year peak at 1.0217 suggests the 3-legged upmove fm Mar's 2-1/2 year trough at 0.8698 has once again resumed n further gain twd 1.0232 (61.8% projection of 1.0033-1.0217 fm 1.0118), then 1.0267 (80.9% projection).”
“However, as the hourly indicators wud display prominent 'bearish divergences' on such move, strg gain abv there is unlikely to be seen n reckon dlr wud hold well below 1.0302 (this is 100% projection of 1.0033 to 1.0217 measured fm 1.0118) this week n yield a much-needed correction.”
“On the downside, only below 1.0095 wud indicate a temp. top is made, yield stronger correction twd 1.0033.”
“Today, in view of abv analysis, we are buying dlr on dips n only below Mon's low at 1.0118 wud indicate a temporary top has been made n yield stronger retracement twd 1.0095 b4 prospect of recovery later.”
Key Quotes
“Looking at the hourly n daily charts, dlr's brief breach of last Thur's 4-year peak at 1.0217 suggests the 3-legged upmove fm Mar's 2-1/2 year trough at 0.8698 has once again resumed n further gain twd 1.0232 (61.8% projection of 1.0033-1.0217 fm 1.0118), then 1.0267 (80.9% projection).”
“However, as the hourly indicators wud display prominent 'bearish divergences' on such move, strg gain abv there is unlikely to be seen n reckon dlr wud hold well below 1.0302 (this is 100% projection of 1.0033 to 1.0217 measured fm 1.0118) this week n yield a much-needed correction.”
“On the downside, only below 1.0095 wud indicate a temp. top is made, yield stronger correction twd 1.0033.”
“Today, in view of abv analysis, we are buying dlr on dips n only below Mon's low at 1.0118 wud indicate a temporary top has been made n yield stronger retracement twd 1.0095 b4 prospect of recovery later.”