USD/CHF Weekly Technical Report 3-7/12/2012

2012-12-03 07:52:03 GMT (ecPulse)

 

 

 

The pair started the weekly trading with downside bias reaching 113% level of CD Leg of the bearish Butterfly Harmonic Pattern. Stability below bottom C is a reason to extend the downside move reaching the extended target 127.2% at 0.9215, which if breached might extend negativity to the second extended target at 161.8% at 0.9130. In general, trading below 0.9330 this may extend the downside move. 

The trading range for this week is among the key support at 0.9130 and key resistance at 0.9395.

The general trend over short term basis is to the downside targeting 0.8860 as far as areas of 0.9775 remains intact.

Support 0.9245 0.9200 0.9180 0.9160 0.9130

Resistance 0.9275 0.9305 0.9330 0.9370 0.9395

Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.9275 targeting 0.9245, 0.9180 then 0.9130 and stop-loss with four-hour closing above 0.9370 might be appropriate this week

 

 
 
 
  Symbol Last Change Chg.%
1.2157
-0.0016
0.1294%
1.4156
0.0020
0.1394%
Tadawul
10322.68
86.96
0.85%
27.578
-0.227
0.815%
65.245
-0.147
0.225%
68.54
0.21
0.31%
1834.995
-9.230
0.500%
 
 
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