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USDCHF’s upward movement extends to 0.9338

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 25, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
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    USDCHF’s upward movement extends to as high as 0.9338. Key support is at the upwards trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9400 area. On the downside, a clear break below the trend line support will suggest that a cycle top has been formed, and the uptrend from 0.9021 has completed, then the following downward movement could bring price back to 0.8950 zone.


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  2. autotrader1

    autotrader1 New Member

    Feb 11, 2013
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    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for US Dollar / Swiss Franc. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
    The present wave patterns are:
    fast amplitude (8%): bullish wave 2
    moderate amplitude (13%): bullish wave 1
    normal amplitude (21%): bullish wave 1
    US Dollar / Swiss Franc is long term Bearish as the 144 days moving average of 0.93 is decreasing. The Relative Strength Index is at 69.25 in the neutral territory. The Relative Momentum Index is at 67.09 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.01, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 72.04. This value is in the overbought territory.

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