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The Forex Pattern Price Time Report - USD CHF - Morning Session
By: James Hyerczyk - 27-08-2008
0votesThe USD CHF is expected to find down side pressure today as the U.S. stock indices are weak and in a down trend. The weak U.S. economy and the credit crisis is fueling the break in this pair. Durable goods are expected to come in weak today indicating a slow down in consumer spending. Technically, this market is forming at top at 1.1086. Look for down side pressure to push this market down to the .618 retracement price at 1.0865. A trade through this price could lead to an acceleration to the down side.
PATTERN
Main Trend: Up
Main Trend Top: 1.1107 (02-13-08)
Main Trend Bottom: 1.0010 (07-15-08)
PRICE
1.1216 Weekly Gann Angle Down
1.1107 Main Trend Top (02-13-08)
1.1086 Week High
1.1008 Overnight High
1.0994 New York Close
1.0970 Weekly Gann Angle Up
1.0916 Week Low/Overnight Low
1.0865 .618 Retracement
1.0630 50% Retracement
1.0610 Gann Angle Up
1.0555 Weekly Gann Angle Up
TIME
Aug 30 90-Day Cycle
Sep 03 90-Day Cycle
Sep 07 90-Day Cycle
Attached Images
Next Analysis: The Forex Pattern Price Time Report - USD CAD - Morning SessionContent Provided by:
James Hyerczyk
James A. Hyerczyk is a registered Commodity Trading Advisor with the National Futures Association.
Mr. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor.
DISCLAIMER:
Forex (off-exchange foreign currency futures and options or FX) trading involves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuate and investors may lose all or more than their original investments. Risks also include, but are not limited to, the potential for changing political and/or economic conditions that may substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. Prices in the underlying cash or physical markets do not necessarily move in tandem with futures and options prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds and such may work against you as well as for you. In no event should the content of this correspondence be construed as an express or implied promise or guarantee from James A. Hyerczyk and J.A.H. Research and Trading or its subsidiaries and/or affiliates that you will profit or that losses can or will be limited in any manner whatsoever. Loss-limiting strategies such as stop loss orders may not be effective because market conditions may make it impossible to execute such orders. Likewise, strategies using combinations of positions such as "spread" or "straddle" trades may be just as risky as simple long and short positions. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
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