Short Term Analysis - October 3, 2007

20071003_usdchf_1.gifUSDCHF is in down trend. The rise from 1.1622 is treated as consolidation to the up trend. Further rise towards 1.1850 area to reach the next cycle top on daily chart is still possible in the next several days. Near term support is at 1.1622, and a break below this level will signal the resumption of the down trend. For long term analysis, USDCHF is in long term bearish movement, fall towards 1.1287 (2004 low) to reach the next cycle bottom on weekly chart is expected.

USDCHF | USDJPY | EURUSD | GBPUSD | USDCAD | AUDUSD


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This entry was posted on Wednesday, October 3rd, 2007 at 1:13 and is filed under Short Term Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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