USD CHF Likely to Test 1.0242 to 1.0262

The USD CHF is trading flat this morning but this action should notaffect the trend. Short-term traders may be backing off because of thestrong rally earlier in the week, but longer-term traders are lookingfor more upside.

Daily Analysis

USD CHF

The USD CHF is trading flat this morning but this action should not affect the trend. Short-term traders may be backing off because of the strong rally earlier in the week, but longer-term traders are looking for more upside. This may mean a developing “buy the dip” situation. Sentiment appears to be shifting toward the Dollar and away from higher yielding assets.

The chart indicates the USD CHF is in a 1.0452 to 1.0032 range. This range creates a retracement zone at 1.0242 to 1.0292. Downtrending resistance is at 1.0262. Up trending resistance is at 1.0152.

Daily Chart

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James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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