{"id":14972,"date":"2010-11-04T09:21:31","date_gmt":"2010-11-04T13:21:31","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14972"},"modified":"2010-11-04T09:21:31","modified_gmt":"2010-11-04T13:21:31","slug":"usdchf-short-on-the-pair","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/04\/usdchf-short-on-the-pair\/","title":{"rendered":"USD\/CHF \u2013 Short on the Pair"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/19\/forex-video-analysis-%e2%80%93-usdchf-technical-analysis\/\">Following an <\/a><a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/29\/usdchf-reversal-signal\/\">upward correction <\/a>in  the value of the USD\/CHF, the pair is resuming its long term down  trend. The long term trend line from the last bearish trend is now  serving as a support level. A breach below this could signal further  weakness in the pair.<\/p>\n<p>Looking at the USD\/CHF daily chart, the pair underwent a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/19\/forex-video-analysis-%e2%80%93-usdchf-technical-analysis\/\">bullish correction <\/a>during  the last two weeks of October. The pair broke the previous downward  sloping trend line and rose as high as 0.9970 but failed to close above  the resistance level at 0.9930.<\/p>\n<p>From this point the pair has <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/09\/22\/usdchf-%e2%80%93-downtrend-looks-to-continue\/\">renewed its downward trend <\/a>and  yesterday made a close below the short term rising trend line of the  bullish correction. This may signal an end to the upward movement in the  pair and further gains for the Swiss franc.<\/p>\n<p>Momentum is to the downside as shown by both the sharp decline in  price over the last 3 days and the Momentum (14) line that has a  negative slope and is now crossing below the 100 level which can be  interpreted as a sell signal.<\/p>\n<p>Support for the pair is found at the previous long term bearish trend  line at 0.9650. A close below the previous trend line could propel the  pair to the swing low on the daily chart at 0.9460.<\/p>\n<p>Resistance is found at the pivot of 0.9730, the 50-day simple moving  average at 0.9815, and in a range between the pivot at 0.9930 and the  height of the correction at 0.9970.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/USDCHF-Daily.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/USDCHF-Daily.JPG\" alt=\"\" width=\"521\" height=\"588\" \/><\/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; Following an upward correction in the value of the USD\/CHF, the pair is resuming its long term down trend. The long term trend line from the last bearish trend is now serving as a support level. A breach below this could signal further weakness in the pair. Looking at the USD\/CHF &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/11\/04\/usdchf-short-on-the-pair\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/CHF \u2013 Short on the Pair&#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-14972","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14972","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=14972"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14972\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}