{"id":13245,"date":"2010-09-22T10:08:16","date_gmt":"2010-09-22T14:08:16","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=13245"},"modified":"2010-09-22T10:08:16","modified_gmt":"2010-09-22T14:08:16","slug":"usdchf-downtrend-looks-to-continue","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/09\/22\/usdchf-downtrend-looks-to-continue\/","title":{"rendered":"USD\/CHF \u2013 Downtrend Looks to Continue"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; The Swiss franc continues to rally against the dollar as the pair  moved past parity and today has taken out the 2009 low in a sustained  downtrend that shows further signs of continuing.<\/p>\n<p>The swissie has been rallying, taking  out multiple support levels on its way below the 1.0000 level. Signs of a  trending market appear which may make for entry good opportunities on  pullbacks in the price.<\/p>\n<p>Using multiple moving averages, a trader can identify the USD\/CHF is  in a sharp downtrend. The 200-day, 100-day, 50-day, 20-day, and 10-day  simple moving averages are in a perfect order, appearing from top to  bottom in this order. This is one indication of a trending market.<\/p>\n<p>Another sign of the trending environment is the ADX indicator which  reads 33. Anything above an output of 25 indicates a currency pair that  is in a strong trend.<\/p>\n<p>The moving averages and the ADX indicator are not shown on the chart below.<\/p>\n<p>Now that the trending environment has been identified, entry  opportunities can be found on pullbacks to known resistance levels for  the USD\/CHF.<\/p>\n<p>Resistance is found at 1.0060, the low from September 1st. Resistance  can also be located at 1.0000. This is a big round number and traders  have a tendency to flock to big round numbers.<\/p>\n<p>The support at 0.9915, the 2009 low was taken out today and will now act as a resistance level.<\/p>\n<p>Short term price targets can be found by drawing a parallel channel  line below the price action for the current downtrend. Today traders can  look for the 0.9870 to come into play.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/USDCHF-Daily.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/09\/USDCHF-Daily.JPG\" alt=\"\" width=\"560\" height=\"574\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                      may     not    be          suitable     for     all            investors.            There       is   a                           possibility              that                  you      could            sustain a    loss          of   all      of          your                         investment  and                        therefore   you                should      not             invest             money    that      you                   cannot           afford to                lose.  You                 should      be           aware      of          all       the         risks                    associated       with            Foreign             Exchange                  trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; The Swiss franc continues to rally against the dollar as the pair moved past parity and today has taken out the 2009 low in a sustained downtrend that shows further signs of continuing. The swissie has been rallying, taking out multiple support levels on its way below the 1.0000 level. Signs &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/09\/22\/usdchf-downtrend-looks-to-continue\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/CHF \u2013 Downtrend Looks to Continue&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-13245","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=13245"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/13245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=13245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=13245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=13245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}