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Thread: Chf Week Ahead

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    Default Chf Week Ahead

    USD/CHF
    USD/CHF's rebound from 1.1816 extended much higher to 1.2213 last week but lost momentum before meeting 1.2232 resistance. Subsequent sharp retreat pushed US/CHF to as low as 1.1993 before recovering mildly on Friday. In the bigger picture, as discussed before, outlook is turned mixed after the strong rebound dampened out original view that USD/CHF has completed a wide range triangle consolidation that started at 1.1919. There are various interpretation of the medium term price actions that started at 1.1919 (May 06) but none of them is really convincing yet.

    Nevertheless, USD/CHF has had a series of lower highs since Nov 05, ie 1.3823, 1.3238, 1.2768, 1.2571 and then 1.2467 in June. Such pattern is still holding and the medium term outlook is still remaining mildly bearish and neutral at best. It will take a break above 1.2467 high to indicate USD/CHF has made an important low at 1.1816 and have the medium term down trend from 1.3283 reversed.

    From a short term angle, further decline is still in favor initially this week as long as 1.2131 resistance holds. Below 1.1993 will encourage a retest of 1.1816 low. Meanwhile above 1.2131 will bring retest of 1.2232 resistance and bring will put 1.2467 high into focus.

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    Default

    Supposed to ascend in the movement to 1.9952 corrective In the event was able to penetrate target points higher than 2.0086 up to 2.0168 and this will be support from the average 1.9802 or 1.9735 stronger on the support ... Stop buying the bottom of the 1.9668

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