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Daily Technical Report: USD/CHF Pair Inched Higher

ByICN.com
Published 12/03/2013, 06:04 AM
Updated 07/09/2023, 06:31 AM

EUR/USD: European Session
<span class=EUR/USD Daily Chart" title="EUR/USD Daily Chart" width="1596" height="747">
The downside move yesterday remained limited above Linear Regression Indicators and above 38.2% correction at 1.3470 showing on graph, as trading remains within the ascending channel. Stochastic is showing negative signals supported by stabilizing below 1.3555 levels, where contradiction emerges. Therefore, we prefer to remain neutral in the European session waiting for confirmation signals.
<span class=EUR/USD S&R Chart" title="EUR/USD S&R Chart" width="1596" height="747">
GBP/USD
<span class=GBP/USD Daily Chart" title="GBP/USD Daily Chart" width="1596" height="747">
The pair dropped in yesterday trading session but is still limited above key resistance level of the bullish continuous technical formation showing on graph. Trading above 1.6260 brings back the positive possibility, but the pair has to stabilize above 1.6305 to keep the bullish possibility.
<span class=GBP/USD S&R Chart" title="GBP/USD S&R Chart" width="1596" height="747">
USD/JPY
<span class=USD/JPY Daily Chart" title="USD/JPY Daily Chart" width="1596" height="747">
The pair moved sharply to the upside stabilizing above 161.8% Fibonacci, which might lead to extending bullishness towards 200% Fibonacci residing at 104.65. Consolidating above Linear Regression Indicator 34 is positive at 102.70 levels, as trading above the referred to level keeps the possibility of extending the current bullish wave available.
<span class=USD/JPY S&R Chart" title="USD/JPY S&R Chart" width="1596" height="747">
USD/CHF
<span class=USD/CHF Daily Chart" title="USD/CHF Daily Chart" width="1596" height="747">
The pair inched higher yesterday but failed to stabilize above Linear Regression Indicators, as the pair is trading again below 0.9095 represented in 23.6% correction. Meanwhile, Stochastic is showing a positive bias forcing us to remain intraday neutral in this report waiting for confirmation signals.
<span class=USD/CHF S&R Chart" title="USD/CHF S&R Chart" width="1596" height="747">
USD/CAD
<span class=USD/CAD Daily Chart" title="USD/CAD Daily Chart" width="1596" height="747">
The pair moved to the upside again yesterday triggered by Linear Regression Indicators and the ascending channel. Stability above the previous top around 1.0607 triggers the possibility of extending the upside move towards 127.2% correction passing by the minor resistance 1.0665. We count on stability above 1.0555 today to keep the positive expectations.
<span class=USD/CAD S&R Chart" title="USD/CAD S&R Chart" width="1596" height="747">

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