Daily analysis for major currencies

2013.08.26

USDCHF:

Weekly support 0.9175, 0.9225 the pair closed @ 0.9213 above their average ((0.9175+0.9225)/2)= 0.9200 according to the daily chart trend lines.

 The USDCHF bias is neutral. Upper barrier is at (0.9272),

Break above that area could trigger further short term upside pressure testing (0.9284). On the downside,

The important price level at (0.9175) may be tested or broken in the coming sessions, which may pull the pair towards (0.9126 – 0.9106).

You may try to buy from lower border and/or sell from upper border.

Hourly Alert:

MACD Bullish Turning: Point 5 hours ago

USDCHF MACD signal line has crossed above the indicator`s

histogram while both of them, MACD and histogram, been less than

Zero. This is a probable bullish short term turning point.

Res: 0.9243 0.9284 0.9304 0.9324 0.9344

Sup: 0.9195 0.9146 0.9126 0.9106 0.9086

 Our view:

Pivot: 0.9200
Entry: Long positions above 0.9200
Targets: 0.9241, 0.9270 then 0.9300 in extension

Stop: below 0.9174

Alert: break below 0.9174 may put 0.9142 then 0.9122where you will Re-entry Long in case first position done it stoploss