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USD/CHF Back Towards Parity

Even thought back in January USD/CHF crashed due the SNB Black Swan even, caused by SNB decision to abandon the 1.2 peg, we're back near parity level, and this is all due to the US dollar exceptional rally. The broad based dollar strength was playing a key role in this impressive recovery and we should see this pair above current year high around 1.0200 level as soon as the dollar bullish trend resume. Right now we're trading in between two big round numbers, with support level at 0.9500 and
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Daytrader21 2015年04月11日

Update 1: The 0.9500 level, big round number, has provided a good support and the market could break below it proving the current up trend. Next week we have a pivot point at 0.9900 which must be tested but however I don't think we're going to break higher than that for the time being the market seems in a much complex consolidation

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Daytrader21 2015年04月18日

Update 2: The market seems trapped inside the 0.9500 big round number and support level and 0.9860 resistance level. Over the past weeks we trade inside this wide range. We need a clear breakout of the resistance zone in order to have a chance to hit our target

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Daytrader21 2015年04月20日

Update 3: The market seems to be holding above 0.9500 big round number quite well, we already posted a green Monday candle this should help keeping up the momentum

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Daytrader21 2015年04月25日

Update 4: Well even thought 0.9500 was still holding the market there wasn't enough momentum to push it higher and basically we're unchanged from last week. The line of least resistance is still to the upside however there is not enough time to catch up 500 pips to meet our target

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Aussie Flying high? For now continues to head towards parity

Aussie remains within the long term range: 0.9380 as the lower border and 1.1080 the upper border. Within this trading range we are making a big triangle pattern which is apparently a bullish formation.(see fig.1)Based on Elliot Wave theory this triangle should be composed of 5 legs. We are currently developing an extended leg D which suggest that in order to complete the triangle formation we need to have a final leg E to the downside and to test the support level around 0.9800 round number.The…
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geula4x avatar
geula4x 2013年05月09日

+1 Liked: Nice analysis and clear charts. Happy trading today :-)

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Spartacus76 2013年05月10日

+1Yes, very well analysis and good luck

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VALTRAD 2013年05月29日

Have punched 0,9800 and 0,9680. The forecast changes, what tell waves?

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Daytrader21 2013年05月29日

@Valtrad Although we have gone through all of those mentioned levels this doesn't invalidated my analysis. As I've said in my analysis you don't have to be rigid, those numbers where just some flexible projections, when you have this kind of momentum price usually carry on a lot further before to reverse. We have just made another swing low and the fact that the price is reacting here is a sign that in the coming month price may rally from here. I'm expecting Jun to be a bullish month for aussie.

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Daytrader21 2013年06月29日

Looking now at the price action it's clear that I have underestimated the current severe break down in the audusd pair. For now I can say that we have turned from a long term bullish trend to a long term bearish trend. Although I was right that we are going to have a break down I didn't expected it to hold but it seems that the market proved me wrong and now I have to reconsider my whole analysis on this pair. After we have taken out all the previous swing lows this look very bearish at the moment with the momentum accelerating to the downside.

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