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Technicals

USD/CHF - Dollar Swiss Franc, European Session - 03/07/08

02 Jul, 2008 @ 10:33 pm EST
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1,0161. USD CHF is in an downtrend directed by 1H exponential moving averages. USD CHF is in a consolidation after the last bearish movement. USD CHF is in a range between 1,0130 and 1,0240. The volatility is low. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The price should find a support above 1,0130. If the support is broken then the target will be 1,0000.
=> We could take a short position at 1,0160. We will put the stop loss above 1,0200 (-40 pips). The targets are 1,0100 (+60 pips) 1,0000 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,0230 - 1,0270
Supports
1,0140 - 1,0100

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