{"id":62340,"date":"2014-10-22T12:16:40","date_gmt":"2014-10-22T16:16:40","guid":{"rendered":"http:\/\/countingpips.com\/?p=62340"},"modified":"2014-10-22T12:24:29","modified_gmt":"2014-10-22T16:24:29","slug":"usdchf-uptrend-is-back-as-correction-ends","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/usdchf-uptrend-is-back-as-correction-ends\/","title":{"rendered":"USD\/CHF Uptrend Is Back As Correction Ends"},"content":{"rendered":"<div id=\"inves-3756004331\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 22, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Price broke above 0.9475, invalidating bearish configuration of lower highs;<\/li>\n<li>S. Dollar posted strong gains against a basket of currencies;<\/li>\n<li>Traders will target main resistance areas at 0.9590, followed by 0.9685.<\/li>\n<\/ul>\n<p><em>Greenback bulls showed signs of life on Tuesday, immediately after Existing Home Sales showed a larger than expected rise to 5.17M. Today\u2019s price action post-CPI sealed the deal, as USD\/CHF rallied into bullish territory, signaling a complete return of the main uptrend.<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>After four days of being stuck in rot, with choppy price action dominating between 0.9400 and 0.9475, USD\/CHF signaled strong bullish intentions on Tuesday as price tested support only to end the day as a large Bullish Engulfing Bar.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/10\/USDCHF22ndOct.png\" alt=\"USDCHF22ndOct\" \/><\/p>\n<p>Based on the Tuesday Daily Close at 0.9491, above previous Lower High and the resistance\/pivot zone at 0.9475, market intentions were somewhat clear even before today\u2019s news hit the wires. With U.S. CPI and Core CPI shedding any worries buyers might have had, coupled with 0.9475 effectively turning into support, USD\/CHF commenced a rally that should continue for the remainder of this week.<\/p><div id=\"inves-4140235442\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>Stochastic is exiting oversold territory on Daily, confirming this bottom as well as strong potential for extended gains towards the upside. Spot is currently trading around 0.9530, and we can identify first targets for USD\/CHF at 0.9590 (multiple swing highs), quickly followed by 6<sup>th<\/sup> October high of 0.9685.<\/p>\n<p>This bullish scenario will remain in effect while 0.9475 continues to act as support.<\/p>\n<p>*********<br \/>\nPrepared by Alex, Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways Price broke above 0.9475, invalidating bearish configuration of lower highs; S. Dollar posted strong gains against a basket of currencies; Traders will target main resistance areas at 0.9590, followed by 0.9685. Greenback bulls showed signs of life on Tuesday, immediately after Existing Home Sales showed a larger than expected rise [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62340","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=62340"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/62340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=62340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=62340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=62340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}