USDCHF pulls back from 1.0794

By IBTimes Staff Reporter | February 08 2010 8:44 PM

Being contained by the upper border of the rising price channel on 4-hour chart, USDCHF pulls back from 1.0794, suggesting that a short term cycle top is being formed. Sideways movement is more likely be seen later today and bottom of the channel would be tested by the end of the sideways movement. However, as long as the channel support holds, the price action from 1.0794 is treated as consolidation of uptrend from 1.0132, one more rise towards 1.0900 is possible after consolidation.

Sponsorship Link

Euro Set For Another Week of Disappointing Data

Euro Set For Another Week of Disappointing Data

Eurozone Reports Increased Trade Surplus

Eurozone Reports Increased Trade Surplus

Eurozone GDP Puts Euro Under Pressure

Eurozone GDP Puts Euro Under Pressure

ZEW Results Weigh on Euro

ZEW Results Weigh on Euro

In Depth

Man Fined For Violating NYC Illegal Hotel Law, Used Airbnb To Rent Out Apartment Illegally

Man Fined For Violating NYC Illegal Hotel Law Via Airbnb

Moore Tornado Meteorology: Not Unusually Strong, No Definitive Climate Change Link Yet

How Strong Was The Oklahoma Tornado, In Historical Terms?

Atheists Fight Gideon Bibles With Books By Christopher Hitchens And Richard Dawkins In Georgia State Parks

What Would Jesus Read? Atheists Fight Bibles With Hitchens In Georgia Book Battle

Tesla’s First-Ever Profit Came Thanks To Selling Zero Emission Credits To Competitors, But It Insists It’s Not Dependent On Bartering CO2 Offsets

Without Carbon Credits, Tesla Would Not Be Profitable (Yet)

web counter