Short Term Analysis – Jan 16, 2008

20080116_usdchf_1.gifUSDCHF broke below 1.0890 previous low and reached as low as 1.0852. Sharply fall towards 1.0600 is still possible in the next several days. Near term resistance is at 1.1189, as long as this resistance holds, down trend will continue.

For long term analysis, USDCHF is in long term down trend, further fall towards 0.9000 to reach the next cycle bottom on weekly chart is expected.

More long term forex analysis.

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