Trade Idea: Usd/Chf - Sell Limit,Stop at 0.9640; Target: 0.9520 ; Stop: 0.9701.
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USDCHF continues its bearish movement from 1.1730 and the fall extended to as low as 0.9555 level.
Further decline is still possible next week and next target would be at 0.9400 area and even 0.9200 area.
Resistance is at 0.9840\80, as long as this level holds, downtrend will continue.
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Dollar Index and the Swiss franc is well correlated with each other.
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And guess from, since September 28, the USDX has already fallen from 79.60 to 77.20.
The 77.00 support, however, had kept the index from falling.
Given this and its oversold condition, the index may range for awhile or even rally before continuing its descent.
A break of the 77.00 level would push the index down to around 74.00.
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"P&F
_DXY1 Box Size 10X3 or(0.38%) CLOSE
Data 79.8 - 76.92
~ 0.36 Month ~ 10.67 Day
Database 12000 records 77.2 (Last Close)
2010-09-28 07~012010-10-08 22~59 (GMT+01:00) Paris
BJF Trading Group MDunleavy chart"
- Code: Select all
79.8|~1O|||x_+_____________________________________________|0.00%|
79.7|~2O|||x_o_+___________________________________________|0.13%|
79.6|~3O|||x_o___+_________________________________________|0.25%|
79.5|~4O|||x_o_x___+_______________________________________|0.38%|
79.4|~5O|||__o_x_o___+_____________________________________|0.5%|3
79.3|~6O|||__o_x_o_____+___________________________________|0.63%|
79.2|~7O|||__o___o_______+_________________________________|0.75%|
79.1|~8O|||______o_________+_______________________________|0.88%|
79.0|~9O|||______o_________x_+_____________________________|1.00%|
78.9|~1OO||______o_x___x___x_o_+___________________________|1.13%|
78.8|~11O||______o_x_o_x_o_x_o___+_________________________|1.25%|
78.7|~12O||______o_x_o_x_o_x_o_____+_______________________|1.38%|
78.6|~13O||______o___o___o_x_o_____x_+_____________________|1.50%|
78.5|~14O||______________o_x_o_x___x_o_+___________________|1.63%|
78.4|~15O||______________o___o_x_o_x_o___+_________________|1.75%|
78.3|~16O||__________________o_x_o_x_o_____+_______________|1.88%|
78.2|~17O||__________________o_x_o___o_______+_____________|2.01%|
78.1|~18O||__________________o_x_____o_________+___________|2.13%|
78.0|~19O||__________________o_______o___________+_________|2.26%|
77.9|~2OO||__________________________o_x___________+_______|2.38%|
77.8|~21O||__________________________o_x_o_x_________+_____|2.51%|
77.7|~22O||__________________________o_x_o_x_o_____x___+___|2.63%|
77.6|~23O||__________________________o_x_o_x_o_x___x_o_x_+_|2.76%|
77.5|~24O||__________________________o___o___o_x_o_x_o_x_o_|2.88%|
77.4|~25O||__________________________________o_x_o_x_o_x_o_|3.01%|
77.3|~26O||__________________________________o_x_o_x_o_x_o_|3.13%|
77.2|~27O||__________________________________o_x_o___o_x_o_|3.26%|
77.1|~28O||__________________________________o_x_____o_+_o_|3.38%|
77.0|~29O||__________________________________o_x_____+___+_|3.51%|
76.9|~3OO||__________________________________o_____________|3.63%|
Column|31O|4_6_3_9_3_3_3_5_6_1_5_3_4_1_4_4_3_9_7_4_5_6_5_5_|
Count|32O||__________________O_______1_____________________|
BJF Trading Group. Excel Chart. Full size.