Home » , » Top pick for the day - Swiss Franc

Top pick for the day - Swiss Franc

Shared By Stock Fanatic on Tuesday, October 27, 2015 | 27.10.15

Breaking out of a triangle?


The Swiss Franc (CHF) appears to be breaking out of its 7–month triangle.

The current rally in the US Dollar (USD) has taken prices to above the triangle resistance but came marginally short of a confirmation.

Moving above the d-wave high of 0.9844 would definitely boost the idea that more legs are likely for the USD in the coming months.

The short term view remains that the USD is still rallying in an impulsive manner. A pullback is likely here in wave iv, roughly towards the previous fourth wave extremes at lesser degrees namely 0.9712-0.9757.

Coincidently that coincides with the 23.6%FR (0.9758) and also the 38.2%FR (0.9709).

Therefore, the 0.9709-0.9758 band is a good support for the USD for the coming correction as the 100-hour EMA also lies within the said band.

We continue to be bullish the USD against the CHF in the coming months as long as 0.9476 holds. (Read Report)

Source : CIMB Research


Posted on Tuesday, October 27, 2015 | 27.10.15
With No comments


Join Me On: Facebook | Twitter | Google Plus ::: Thank you for visiting ! :::
DISCLAIMER:
Some of the photos shown in this blog are randomly sourced from the Public Domain. If there is an infringement in the copyright of the photos; kindly inform us and it will be removed immediately. Thank you for your kind understanding.
Share this article :

Post a Comment

 
Modified by : Stockfanatic
Copyright © 2008 - 2018. Singapore Stock Market News - All Rights Reserved
Template Created by Creating Website Published by Mas Template
Proudly powered by Blogger
Related Posts with Thumbnails