AceTraderFx Nov 26: Daily Technical Outlook & Trading Ideals on USD/CHF

DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 27 Nov 2014 00:03GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
0.9624

55 HR EMA
0.9640

Trend Hourly Chart
Near term down

Hourly Indicators
Falling

13 HR RSI
40

14 HR DMI
-ve

Daily Analysis
Consolidation with downside bias

Resistance
0.9742 - Nov 07 fresh 1-year high
0.9698 - Tue’s high
0.9666 - Y’day’s high

Support
0.9595- Y’day’s low
0.9554 - Last Thur’s low
0.9530 - Last Thur’s low

. USD/CHF - 0.9613… Dlr’s intra-day choppy trading in Europe y’day later ended with subsequent losses. Despite staging a rebound fm 0.9622 to 0.9666 on sharp retreat in eur/usd in European morning, price quickly fell on broad-based weakness in the greenback, price later fell to 0.9595 after downbeat U.S. data.

. Looking at the bigger picture, despite Mon’s higher open to 0.9731 in NZ, failure to re-test Nov’s fresh 1-year peak at 0.9742 n y’day’s sell off to 0.9595 has deferred our previous bullish prospect of a resumption of uptrend n further choppy trading below aforesaid peak is envisaged n weakness twd 0.9568 (80.9% r of 0.9530-0.9731) can’t be ruled out, however, as long as 0.9530 (last Wed’s reaction low fm 0.9742) holds, dlr’s MT 3-legged up move fm Mar’s 2-1/2 year bottom at 0.8698 wud resume n yield re-test of 0.9742 next week, abv wud extend gain twd 0.9772, being 61.8% projection of 0.9024-0.9690 measures fm 0.9690, how ever, as daily technical indicators wud display ‘bearish divergences’ on such move, strg gain abv there is unlikely n psychological res at 0.9800 shud hold.

. Today, we’re standing aside initially n may sell dlr on intra-day recovery or buy on next decline in anticipation of a rebound.

[B]DAILY USD/CHF TECHNICAL OUTLOOK[/B]
Last Update At [B]09 Dec 2014[/B] [I]00:18GMT[/I]

[B]Trend Daily Chart [/B]
Up

[B]Daily Indicators[/B]
Bearish divergences

[B]21 HR EMA [/B]
0.9774

[B]55 HR EMA[/B]
0.9767

[B]Trend Hourly Chart[/B]
Sideways

[B]Hourly Indicators[/B]
Rising fm o/s

[B]13 HR RSI [/B]
46

[B]14 HR DMI[/B]
-ve

[B]Daily Analysis[/B]
Resumption of MT downtrend

[B]Resistance [/B]
0.9875 - 61.8% proj. of 0.8857-0.8690 fm 0.9360
0.9843 - 1.236 times extn. of 0.9530-0.9731 fm 0.9695
0.9818 - Y’day’s high

[B]Support[/B]
0.9738 - Last Fri’s Euroepean high
0.9703 - Last Fri’s low
0.9650 - Last Thur’s low

. [B] USD/CHF[/B] - 0.9767… Despite a brief retreat to 0.9774 in Asian morning y’day, renewed buying emerged n pushed price higher to a fresh 1-1/2 year peak of 0.9818 in European morning on renewed euro’s weakness. However, price pared retreated sharply to 0.9738 in NY session due to broad-based usd’s decline.

. Despite dlr’s resumption of the 3-legged uptrend fm Mar’s 2-1/2 year trough at 0.8698 to 0.9818, subsequent retreat to 0.9738 suggests a minor top is possibly in place n below 0.9703 wud add credence to this view, then several days of choppy consolidation with downside bias wud be seen n bring a long-overdue minor correction to 0.9650, however, reckon 0.9595 sup wud remain intact n yield subsequent rebound. On the upside, abv 0.9818 wud yield marginal gain twd 0.9875, this is 61.8% proj. of the MT intermediate rise fm 0.8857-0.8690 measured fm 0.9360. Having said that, as hourly & daily indicators’ readings wud display ‘bearish divergences’ on such move, 'psychological res at 1.0000 shud remain intact this week n bring a strg correction.

. Today, in view of broad consolidation outlook, we’re trading dlr on both sides of the market n wud sell on recovery or buy on next intra-day decline.

DAILY USD/CHF TECHNICAL OUTLOOK
Last Update At 12 Dec 2014 00:08GMT

Trend Daily Chart
Up

Daily Indicators
Bearish divergences

21 HR EMA
0.9683

55 HR EMA
0.9691

Trend Hourly Chart
Down

Hourly Indicators
Rising

13 HR RSI
54

14 HR DMI
+ve

Daily Analysis
Choppy trading to continue

Resistance
0.9818 - Mon’s high
0.9778 - Tue’s high
0.9723 - Y’day’s high

Support
0.9628 - Y’day’s low
0.9616 - 01 Dec low
0.9595 - 26 Nov low

. USD/CHF - 0.9693… Although dlr resumed its recent descent on Thur n weakened to session low of 0.9628 at Asian open, price rebounded to 0.9679 b4 retreating. Dlr again ratcheted to 0.9679 in Europe b4 rising to the day’s high of 0.9710, helped by upbeat U.S. data b4 retreating due to fall in the Dow.

. Looking at the hourly n daily charts, despite y’day’s breach of Tue’s low at 0.9654 to 0.9628, subsequent strg rebound suggests the 1st leg of correct ion fm Mon’s fresh 1-1/2 year peak at 0.9818 has ended there n consolidation with upside bias wud be seen, abv res 0.9710 wud add credence to this view n extend gain twds 0.9778. A daily close abv there wud indicate the MT 3-legged upmove fm Mar’s 2-1/2 year trough at 0.8698 has resumed n yield re-test of 0.9818 next week. On the downside, only below 0.9628 wud turn outlook bearish for a stronger retracement of aforesaid MT uptrend twds 0.9616 (01 Dec low), then 0.9595 (26 Nov low) later.

. Today, in view of abv analysis we are buying the greenback again on dips in anticipation of another rise to 0.9735 but 0.9778 res wud remain intact. Only below 0.9628 wud extend weakness twd daily chart sup at 0.9595.