Dollar likely to Rise against Swiss Franc, Japanese Yen

Crude oil prices and increased appetite for risk are helpingto support the Canadian Dollar overnight. It looks as if it could be a “riskon” day today which will be beneficial to all the higher yielding currencies.

Crude oil prices and increased appetite for risk are helpingto support the Canadian Dollar overnight. It looks as if it could be a “riskon” day today which will be beneficial to all the higher yielding currencies.

The EUR USD is trading sharply higher overnight asspeculative buyers continued to drive the market on the notion that the EuroZone economy will recover faster than the U.S. economy. The next upsidetarget is a downtrending Gann angle at 1.3184.

The GBP USD is walking up a Gann angle at 1.5616. This priceshould act as support. A break out over the Fib level at 1.5729 could triggeran acceleration to the upside.

The Dollar/Swiss is meeting Gann angle resistance at 1.0170.The main trend will turn up on a trade through the last swing top on the dailychart at 1.0277.

The Dollar/Yen is testing a 50% level at 86.01. Holdingabove this price could trigger another move to 86.75. I know it may be a long shot, but the dailychart has a price cluster at 88.93 – 88.98, making this price a potentialupside target.

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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