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Intraday Technicals: USD/CHF Rally Nearly Out Of Steam, Sell at 1.0361
Last updated 03 November 2009 10:16 AM ET (GMT -5)
| EUR/USD (Short Term) | | daily trendline broken, but currently testing minor support/bullish pattern completion near 1.4635 with room down to 1.4575. If current bottom of 1.4626 holds the room up to 1.4696, 1.4740. |
| GBP/USD (Short Term) | | Waiting for new pattern to emerge. |
| USD/JPY (Short Term) | | Waiting for new pattern to emerge. |
| USD/CHF (Short Term) | | Sell at 1.0361 risking 1.0406 targeting 1.0292 (T1), 1.0245 (T2). |
| USD/CAD (Short Term) | | Waiting for new pattern to emerge |
| AUD/USD (Short Term) | | Flirting with daily bull trend line support. Bullish 4hr butterfly pattern emerging projected to complete near .8845. |
| NZD/USD (Short Term) | | Currently testing 38.2% daily support near .7080 with room down to 2hr bullish pattern completion near .7030, .6960 |
- EUR/USD
- GBP/USD
- USD/JPY
- USD/CHF
- USD/CAD
- AUD/USD
- NZD/USD
EUR/USD (Intraday Forecast)
Potential Strategy
daily trendline broken, but currently testing minor support/bullish pattern completion near 1.4635 with room down to 1.4575. If current bottom of 1.4626 holds the room up to 1.4696, 1.4740.
| What is the trend? | Neutral |
| What is this pattern? | Bullish Butterfly - See all chart patterns |
| Why is this significant? | converging fib support increases odds for temporary bounce near pattern completion (point D) |
| What other indicators or Fib Levels support this thesis? | additional 161.8% ABCD extension pattern (in pink on 1hr) within CD leg (purple) |
Reason for Strategy
Trade Invalidation
wide randing candles prior to current point D increase odds for dip down to D2 near 1.4575
| Resistance 3 | 1.4696 | 38.2% |
| Resistance 2 | 1.4718 | 50% |
| Resistance 1 | 1.4740 | 61.8% |
| Current Price | 1.4655 | |
| Support 1 | 1.4626 | current bottom near 127.2% of XA and BC |
| Support 2 | 1.4575 | 161.8% of XA and BC |
| Support 3 | tbd | tbd |
- Daily Chart -
- 1hr Chart -
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
GBP/USD (Intraday Forecast)
Potential Strategy
Waiting for new pattern to emerge.
| What is the trend? | Neutral |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | |
| What other indicators or Fib Levels support this thesis? | bearish weekend gap |
Reason for Strategy
| Resistance 3 | 1.6348 | 50% |
| Resistance 2 | 1.6369 | 61.8% |
| Resistance 1 | 1.6399 | 78.6% |
| Current Price | 1.6322 | |
| Support 1 | 1.6261 | 161.8% |
| Support 2 | 1.6199 | 50% |
| Support 3 | 1.6083 | 61.8% |
- Daily Chart -
- 30min Chart -
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
USD/JPY (Intraday Forecast)
Potential Strategy
Waiting for new pattern to emerge.
| What is the trend? | Neutral |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | |
| What other indicators or Fib Levels support this thesis? | |
Reason for Strategy
| Resistance 3 | 91.96-92.08 | 88% on daily-161.8% on 2hr |
| Resistance 2 | 92.55 | AB=CD on 2hr, previous top on daily (100%) |
| Resistance 1 | 93.23-93.74 | 127.2% ABCD extension on 2hr, 127.2% on daily |
| Current Price | 91.85 | |
| Support 1 | 91.30 | 38.2% of most recent 2hr rally (not shown) |
| Support 2 | 91.0 | 50% of most recent 2hr rally (not shown) |
| Support 3 | 90.50 | 78.6% of most recent 2hr rally (not shown) |
- Daily Chart -
- 2hr Chart -
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
USD/CHF (Intraday Forecast)
Potential Strategy
Sell at 1.0361 risking 1.0406 targeting 1.0292 (T1), 1.0245 (T2).
| What is the trend? | Down |
| What is this pattern? | Bearish Butterfly - See all chart patterns |
| Why is this significant? | converging fib resistance near D increases odds for temporary market reversal |
| What other indicators or Fib Levels support this thesis? | previous resistance, bear trend line (weekly) |
Reason for Strategy
Trade Invalidation
gaps prior to entry
| Resistance 3 | 1.0365 | 161.8% of XA, 161.8% ABCD extesnion |
| Resistance 2 | 1.04 | previous resistance |
| Resistance 1 | 1.05 | previous resistance |
| Current Price | 1.0313 | |
| Support 1 | 1.0292 | 38.2% of CD |
| Support 2 | 1.0245 | 61.8% of CD |
| Support 3 | 1.0156 | previous support (point A) |
- Weekly Chart -
- 4hr Chart -
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
USD/CAD (Intraday Forecast)
Potential Strategy
Waiting for new pattern to emerge
| What is the trend? | Down |
| What is this pattern? | No pattern present - See all chart patterns |
| Why is this significant? | |
| What other indicators or Fib Levels support this thesis? | |
Reason for Strategy
| Resistance 3 | 1.0869 | 127.2% |
| Resistance 2 | 1.0910 | 161.8% |
| Resistance 1 | | |
| Current Price | 1.0780 | |
| Support 1 | 1.0776 | 78.6% |
| Support 2 | 1.0730 | 127.2% |
| Support 3 | 1.0696 | 161.8% |
- 8hr Chart -
- 30min Chart -
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
AUD/USD (Intraday Forecast)
Potential Strategy
Flirting with daily bull trend line support. Bullish 4hr butterfly pattern emerging projected to complete near .8845.
| What is the trend? | Neutral |
| What is this pattern? | Bullish Butterfly - See all chart patterns |
| Why is this significant? | converging fib support near D increases odds for temporary market reversal |
| What other indicators or Fib Levels support this thesis? | |
Reason for Strategy
| Resistance 3 | | |
| Resistance 2 | | |
| Resistance 1 | | |
| Current Price | | |
| Support 1 | | |
| Support 2 | | |
| Support 3 | | |
- Daily Chart -
- 4hr Chart -
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
NZD/USD (Intraday Forecast)
Potential Strategy
Currently testing 38.2% daily support near .7080 with room down to 2hr bullish pattern completion near .7030, .6960
| What is the trend? | Neutral |
| What is this pattern? | Bullish Butterfly - See all chart patterns |
| Why is this significant? | converging fib support near D increases odds for temporary market reversal |
| What other indicators or Fib Levels support this thesis? | |
Reason for Strategy
| Resistance 3 | .7291 | 38.2% of current daily down swing |
| Resistance 2 | .7356 | 50% of current daily down swing |
| Resistance 1 | .7422 | 61.8% of current daily down swing |
| Current Price | .7149 | |
| Support 1 | .7084 | 38.2% |
| Support 2 | .7030 | 161.8% of XA, 127.2$ of BC |
| Support 3 | .6960 | 161.8% of BC, 200% of XA |
- Daily Chart -
- 2hr Chart -
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of future results.
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The information, including Commentary and Trade Ideas, provided on FX360.com should not be relied upon as a substitute for extensive independent research which should be performed before making your investment decisions. Global Forex Trading and FX360 .com is merely providing this information for your general information. The information and opinions presented do not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. Any projections or views of the market provided by FX360.com may not prove to be accurate.
The views of the authors and analysts are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.