USD-CHF forex analysis for the week of Feb 27 to March 2,2012
by admin ·
T he last week, we wrote, “a passage under 0.9080 would then signal a beginning of a downward trend with larger first primary objective zone 8980 and 0.9020 then 0.8620 then with an extension” and USD-CHF has not managed to hold above 0.91. He then dived 0.90 to come on Friday night and ended on 0.8958.
The good news from Europe and US least favorable statistics have weighed heavily on the dollar last week. Then the long awaited release, between private creditors and the Greek government, has tilted the balance in 0.91 and the downward trend resumed its way.
Graphically, we are in a downtrend and our goal should be extended back to 0.8680/20. But the next week, will be full of macroeconomic data and financial-political events beginning with the G20. Also, under these conditions, one wonders if parity will find its way or will he wait a few days for it to decide?
Therefore, 0.8920/10 could do during those few days as a support and allow us to return to 0.9020/30 or 0.9050. But “normally”, this should be only temporary and the tide would take for a drop to 0.86.
Also, we will buy slightly mounting area and we will sell the points of resistance and hope that parity can resume its downtrend as 0.89 for our final goals this weekend, to be 0.8720 and 0.8620.
Our tips for the week: Slightly buyer sells it below 0.8920/10 to 0.9020/50 and under 0.86
We sell 0.9050/70 and 0.9020/0.8980 for 8720
We sell 0.8820/8780 and 0.8920 for 8680
We buy for 0.8920 0.9020/9050
We buy 0.9080/0.9180 for 0.9020
Statistics that can influence the currency pair
February 27 the German parliament vote
Feb. 28 Germany Inflation
February 29 Unemployment Germany
February 29 US GDP
March 1st US ISM
Beginning March 2 G20
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