Swiss Franc (CHF) Technical Major Currencies (2011-07-28)

By @ibtimes on

Morning Report

The potential reversal zone of the bullish deep crab harmonic pattern at 0.8015 is preventing the pair from extending the bearishness. Consolidation above this level should keep our previous expectations valid, and we expect an upside move during the coming period unless we have consecutive daily closings below 0.7920.

The trading range for today is among the major support at 0.7830 and the major resistance at 0.8250.

The short-term trend is to the upside with steady weekly closing above 0.7920 targeting 0.8930.

Previous Report

Weekly Report

Support0.80000.79650.79200.78750.7830Resistance0.8080081100.81500.81950.8205RecommendationBased on the charts and explanations above our opinion is buying the pair with around 0.8015, targeting 0.8250, and stop loss with daily closing below 0.7920 might be appropriate today.

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