USD/CHF Establishing a Bottom
Tuesday, July 27th, 2010Following up with yesterday’s update, “Assessing Possible Bottom”, indeed a rally emerged from the 50 period moving average in the 4H chart.
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USD/CHF Establishing a Bottom
Following up with yesterday’s update, “Assessing Possible Bottom”, indeed a rally emerged from the 50 period moving average in the 4H chart.
Read more here:
USD/CHF Establishing a Bottom
As dollar has retreated after intra-day rally to 1.0604, suggesting minor consolidation would be seen and pullback to the Tenkan-Sen (now at 1.0543), then the Kijun-Sen (now at 1.0531) is likely, however, renewed buying interest should emerge above the Ichimoku cloud top (now at 1.0507) and bring another rally later.
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Trade Idea Update: USD/CHF – Buy at 1.0510
The 1.30 resistance has cracked. The outlook may be changed since the market first tested the 1.30 level. However the bearish scenario still exists ahead of the short-term bullish outlook
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EUR/USD Might be Developing the Last Wave of a Zig Zag