{"id":18935,"date":"2011-02-01T09:45:36","date_gmt":"2011-02-01T14:45:36","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18935"},"modified":"2011-02-01T09:45:36","modified_gmt":"2011-02-01T14:45:36","slug":"technical-analysis-usdchf","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/01\/technical-analysis-usdchf\/","title":{"rendered":"Technical Analysis \u2013 USD\/CHF"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>The January candlestick on the USD\/CHF monthly chart shows two  contrasting signals that could be interpreted as either bullish or  bearish. However, bias remains to the downside.<\/p>\n<p>An argument for a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/10\/usdchf-testing-8-month-trend-line\/\">rally in the pair<\/a> holds water as the January candlestick closed as an inverted hammer.  This minor reversal pattern requires confirmation in the form of a move  above the January close at 0.9415.<\/p>\n<p>First resistance comes in at the lower channel line that comes in  this month at 0.9440, followed by the January high of 0.9780, and  finally by the November and December highs near the 1.0070 mark.<\/p>\n<p>However, bias is to the downside as the past monthly chart shows, 5 of the last 8 monthly bars have been declines with the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/12\/30\/more-declines-in-store-for-usdchf\/\">long term trend <\/a>to  the downside. Supporting a continuation of the downtrend is the January  close that failed to end the month above the lower channel line that  comes off of the 2008 low.<\/p>\n<p>Support is found at the January 2010 low at 0.9320 followed by the all-time low from the November candlestick at 0.9300.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/02\/USDCHF.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/02\/USDCHF.JPG\" alt=\"\" width=\"590\" height=\"585\" \/><\/a><\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/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>The January candlestick on the USD\/CHF monthly chart shows two contrasting signals that could be interpreted as either bullish or bearish. However, bias remains to the downside.<\/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-18935","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18935","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=18935"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18935\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}