Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Daily Forecast For USD/CHF: December 10, 2012

ByIan Copsey
Published 12/10/2012, 05:16 AM
Updated 07/09/2023, 06:31 AM
USD/CHF
-
BIAS:

We now need a break below 0.9340-50 and 0.9326 to see losses extend to 0.9280-99 - but then care is required.

Resistance: 0.9369 0.9382-86 0.9422 0.9448
Support: 0.9340-50 0.9320-26 0.9299 0.9280

MAIN ANALYSIS: We saw the push into the 0.9368-0.9400 range and while there is a small risk of a blip to 0.9386 I cautiously prefer the downside to resume. Initially we need to see a break below the 0.9340-50 area and once seen should then extend losses through to 0.9280-99. I suspect this area should support for a modest correction higher but probably holding below 0.9320-40 before further losses are seen that should extend back to the 0.9241 low - possibly 0.9214.

COUNTER ANALYSIS: Only above 0.9400 would imply deeper retracement areas at 0.9448 and 0.9472… At this point I don't see any break above 0.9512.

MEDIUM-TERM ANALYSIS:
7th December: Very clearly we had been witnessing a problem on the downside and this recovery should shake out the cobwebs and ideally the 0.9360-00 area should now cap to allow the downside to finally develop. A break below the 0.9214 low will provide the final confirmation although until further development is seen it is difficult to generate any targets.

Only a break above 0.9448 and really 0.9512 would shake this up and cause problems.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.