USD/CHF Technical Analysis 04.11.2013

Ilya Spivak

USD/CHF Technical Analysis- Prices continue to push lower after putting in a Dark Cloud Cover candlestick pattern below trend line support-turned-resistance. Sellers took out support at 0.9358, the 38.2% Fibonacci retracement, exposing the 50% mark at 0.9294. A push beneath that aims for the 61.8% Fib at 0.9229. The 0.9358 level has been recast as resistance. A turn back above that eyes the 23.6% retracement at 0.9437.


Forex_USDCHF_Technical_Analysis_04.11.2013_body_Picture_5.png, USD/CHF Technical Analysis 04.11.2013
Forex_USDCHF_Technical_Analysis_04.11.2013_body_Picture_5.png, USD/CHF Technical Analysis 04.11.2013

Daily Chart - Created Using FXCM Marketscope 2.0



Want to back-test your technical trading strategy? Download the historical data here.




--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com


To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak


To be added to Ilya's e-mail distribution list, please CLICK HERE


New to FX? Watch this Video. For live market updates, visit the Real Time News Feed




DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.