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Thread: USD/CHF Weekly Outlook

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    Default USD/CHF Weekly Outlook

    USD/CHF Weekly Outlook
    USDCHF Outlook | Written by ActionForex.com | Mar 01 08 20:25 GMT |
    USD/CHF Weekly Outlook

    USD/CHF's fall from 1.1596 finally resumed last week by taking out 1.0729 low and reached dived to as low as 1.0409 so far. From a short term angle, initial bias will remain on the downside this week as long as 1.0527 minor resistance holds. Further fall is now expected to next short term target of 100% projection of 1.1596 to 1.0836 from 1.1105 at 1.0345 first. Above 1.0527 will indicate that an intraday low is in place and bring consolidation. Though, recovery is expected to be limited ny 1.0644 resistance and bring decline resumption.

    In the bigger picture, whole down trend from 1.3283 (05 high) also resumed falling last week's break of 1.0729 low. The preferred interpretation is that fall from 1.3282 was initially contained at 1.1919 and turned into sideway triangle consolidation that completed at 1.2467, where the medium term down trend from 1.3283 resumed . Having said that, next medium term downside target will be 161.8% projection of 1.3283 to 1.1919 from 1.2467 at 1.0260. Also, such medium term decline is tentatively treated as resumption of the long term down trend from 1.8305 (00 high) which could extend further to parity. Meanwhile, touching of 1.0835 resistance will be the first indication that a medium low is already in place.




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    i think chf has same correlation with usd jpy

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    USD/CHF weakens further to as low as 0.9941 today.
    Break of 1.0014 minor support flipped intraday bias back to the downside and retest of 0.9870 support should be seen.
    Break will indicate that correction from 0.9634 has completed and will bring retest of this low.
    On the upside, above 1.0034 minor resistance will turn intraday outlook neutral first. further break of 1.0216 will flip intraday bias back to the upside and suggest that rise from 0.9634 has resumed.

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    USD/CHF's fall from 1.0216 extends further to as low as 0.9887 today, just above 0.9870 support.
    At this point, intraday bias remains on the downside as long as 1.0033 minor resistance holds.
    Break of 0.9870 will indicate that correction from 0.9634 has completed and will bring retest of this low.
    On the upside, above 1.0033 minor resistance will turn intraday outlook neutral first.
    Further break of 1.0216 will flip intraday bias back to the upside and suggest that rise from 0.9634 has resumed.

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    actionforex views as posted by you are very realistic and price usually howers at those levels

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    USD/CHF finally broke out of multi week consolidation last week and surged to as high as 1.0284.
    From a short term angle, in initial bias remains on the upside this week as long as 1.0156 minor support holds.
    Further upside is still expected to test 1.0352 resistance zone. On the downside, below 1.0156 minor support will turn intraday outlook neutral first. But break of 0.9936 is needed to indicate rise from 0.9634 has completed.

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    bisaddkunlevics
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    After dipping to 1.1239 initially last wee, USD/CHF's rise from 1.1158 resumed and rose to as high as 1.1622. From a short term angle, initial bias remains on the upside this week as long as 1.1426 minor support holds. As discussed before, we're maintaining the view that correction from 1.1963 has completed at 1.1158. Break of 61.8% retracement of 1.1963 to 1.1158 at 1.1655 will add much credence to this case and bring retest of 1.1963 high. On the downside, however, below 1.1426 will flip intraday bias back to the downside and argues that price actions from 1.1158 might merely be corrective in nature. In other words, fall from 1.1963 is still in progress.

    In the bigger picture, USD/CHF pulled back after completing an impulsive five wave rally from 1.0366 to 1.1964. Subsequent correction might have completed after drawing support from 50% retracement of 1.0366 to 1.1963 at 1.1165. Break of 1.1963 will confirm that whole rise from 1.0366 has resumed for retest of 1.2229 high. On the downside, though, below 1.1158 will indicate that fall from 1.1963 is still in progress but even in such case, downside is still expected to be contained above 1.0864 support and bring rise resumption. However, note that sustained break of 1.0864 will dampen this view and will turn focus to 1.0366 low.

    In the longer term picture, a long term bottom is no doubt in place at 0.9634 with bullish convergence condition in daily MACD. USD/CHF failed to take out 55 months EMA again (now at 1.1972) and reversed again and thus giving no confirmation of long term reversal yet. Though, sustained trading above there will affirm the bullish case that long term trend in USD/CHF has reversed. Further break of 1.3283 will confirm underlying upside momentum and open up the possibility for retesting 1.8305 (00 high).

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    I think USDCHF is going down to 0.9864 in the next one week.

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    Quote Originally Posted by blissreel View Post
    I think USDCHF is going down to 0.9864 in the next one week.
    If it hits 0.98 it will be a very good buy. A week ago some major banking group purchased a one year option for 1.18 strike price. There is also the persistent threat of SNB intervening - which they have done twice this year already.

    In other words, it is a bad idea to short USDCHF.

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    Quote Originally Posted by DollarBull View Post
    If it hits 0.98 it will be a very good buy. A week ago some major banking group purchased a one year option for 1.18 strike price. There is also the persistent threat of SNB intervening - which they have done twice this year already.

    In other words, it is a bad idea to short USDCHF.
    Thanks alot for the advice. Wishing to hear more from u concerning other currencies. esp gu and eu

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    The downtrend continues. But caution must be exercised because the dollar seems a strong currency at the moment despite the weak fundamentals.

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    Quote Originally Posted by seiko View Post
    USD/CHF Weekly Outlook
    USDCHF Outlook | Written by ActionForex.com | Mar 01 08 20:25 GMT |
    USD/CHF Weekly Outlook

    USD/CHF's fall from 1.1596 finally resumed last week by taking out 1.0729 low and reached dived to as low as 1.0409 so far. From a short term angle, initial bias will remain on the downside this week as long as 1.0527 minor resistance holds. Further fall is now expected to next short term target of 100% projection of 1.1596 to 1.0836 from 1.1105 at 1.0345 first. Above 1.0527 will indicate that an intraday low is in place and bring consolidation. Though, recovery is expected to be limited ny 1.0644 resistance and bring decline resumption.

    In the bigger picture, whole down trend from 1.3283 (05 high) also resumed falling last week's break of 1.0729 low. The preferred interpretation is that fall from 1.3282 was initially contained at 1.1919 and turned into sideway triangle consolidation that completed at 1.2467, where the medium term down trend from 1.3283 resumed . Having said that, next medium term downside target will be 161.8% projection of 1.3283 to 1.1919 from 1.2467 at 1.0260. Also, such medium term decline is tentatively treated as resumption of the long term down trend from 1.8305 (00 high) which could extend further to parity. Meanwhile, touching of 1.0835 resistance will be the first indication that a medium low is already in place.



    Unarguably true USDCHF will fall further this coming week but its always better to sell at the peak

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    Well this pair might be the sure bet for sell cause the trend for the week is still down so just keep your fingers crossed cause this pair is going down to test 1.0506

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