USD/CHF targets 0.9317 - Technical Analysis - Dukascopy Bank

Fri, 25 Nov 2011 09:04:36 GMT
Source: Dukascopy
 
© Dukascopy
"The U.S. dollar would get some support in this environment particularly, as the euro is out of favor"
- St. George Bank Ltd. (based on Bloomberg)

Industry outlook
Present bullish impetus is expected to drag the price rather high - up to 0.9317 and ultimately up to 0.9341/99 where the latter level is likely to act as impenetrable impediment. Supports, on the other hand, lie at 0.9120 and 0.8555/50.

Traders' sentiment
More market participants believe in greenback's appreciation relative to the swissie than they did yesterday morning. The part of long trades surged to 66.01%, while the share of short trades tumbled to 33.99%.

Long position opened
Major market participants are likely to close their long positions at the key resistance levels. The primary short-term target will be reached at 0.9229. The breakout of this level will pave a way for a bullish run up to 0.9253 and then to 0.9316.

Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 0.9167. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 0.9129 and 0.9067.
© Dukascopy

Back to feed
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.