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DAILY ANALYSIS FOR USDCHF
By: FX-Forecaster - 24-09-2008
0votesBias: We require the 1.0887-00 resistance to remain intact to allow direct losses to resume or see 1.0932-83
While the downside does still seem the stronger of the two possibilities
there is sufficient uncertainty over the wave structure and thus it will be
best to wait for confirmation. Initial support is at 1.0825 and breach would
provide ammunition for additional losses towards 1.0758. Take care as this
could see a small reaction higher. However, once this support breaks look
for losses to be maintained for 1.0695 and potentially 1.0623. This is
another area that could force a correction. Next support is at 1.0563.
Next Analysis: Deltastock Daily Forex AnalysisAttached Files
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Ian Copsey is a veteran technician having begun his career in Foreign Exchange over 25 years ago. His book “Integrated Technical Analysis” has been read by over 4,000 readers worldwide.
DISCLAIMER:
“Daily Forecaster is an analytical tool only and is not intended to replace individual research. The service is offered is an opinion on the current state of the market with anticipated trading signals but not recommendations. The information provided in Daily Forecaster should not be relied on as a substitute for extensive independent research before making your trading/investment decisions. Ian Copsey is merely providing this service for your general information. No representation is being made that any view or opinion will guarantee profits or not result in losses from trading. In addition any projections or views of the market provided may not prove to be accurate. The opinions are subject to change without notice. Opinions or views expressed in Daily Forecaster are not meant to be either investment advice or a solicitation or recommendation to establish market positions. Ian Copsey will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this service.”
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