USD/CHF fell for the first half of the session on Tuesday only to bounce later in the day to form a hammer just above the 0.91 - 0.90 support area. The pair is certainly benefitting from the bearish stock markets and run to the Dollar for the day. Also, the EUR/CHF found itself dangerously close to the 1.20 level during the trading day, and the possible intervention at that area would certainly drive the value of the Franc down overall - and show itself in this pair. Because of these things - we are bullish of this pair, and the candle for the session is the supportive signal we have been waiting on. We are willing to buy a break of the highs form Tuesday, and pullbacks that show signs of support between here and 0.90 - even on the shorter time frames.

USD/CHF

USD/CHF Forecast February 1, 2012, Technical Analysis

USD/CHF Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9023
0.9073
0.9151
0.9201
0.9279
0.9329
0.9407

 Fibonacci
0.9073
0.9122
0.9152
0.9201
0.9250
0.9280
0.9329

 Camarilla
0.9194
0.9206
0.9217
0.9201
0.9241
0.9252
0.9264

 Woodie's
-
0.9080
0.9165
0.9208
0.9293
0.9336
-

 DeMark's
-
-
0.9304
0.9214
0.9176
-
-