Weekly Report (April 11 - 15)

The dollar versus swissy continues to trade with downside tendencies affected by the bearish pattern completed with the breach of 0.9125 in addition to the negative pressure from the SMA 50. We expected the bearishness to continue for this week targeting areas from 0.8885 then 0.8750 and require steady daily closing below 0.9165 to insure that targets will not be postponed.

The trading range for this week is among the major support at 0.8800 and the major resistance at 0.9235.

The short term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9125 targeting 0.8950 and stop loss above 0.9235 might be appropriate this week