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  1. #1
    FXTechstrategy Team is offline Junior Member
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    Sep 2015
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    Default Daily Technical Strategy On Currencies & Commodities

    USDCHF: Threatens Recovery On Reversal Of Losses

    USDCHF: With USDCHF reversing almost all of its past week losses to close marginally lower on Friday, risk of further move higher is likely. On the upside, resistance lies at the 0.9762 level with a breach targeting the 0.9800 level. A breather may occur here and turn the pair lower. But if taken out, expect a push further higher towards the 0.9850 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 0.9600 level. A turn below here will open the door for more weakness to occur towards the 0.9550 level and then the 0.9500 level. A cut through here will open the door for additional decline towards the 0.9450 level. All in all, the pair remains biased to the upside in the short term.


  2. #2
    FXTechstrategy Team is offline Junior Member
    Join Date
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    Default EURUSD: Caps Recovery, Risk Turns Lower On Price Failure

    EURUSD: Having EUR closed lower on price failure at 1.1459 level to print a rejection candle the past week, further weakness is envisaged in the new week. As long as the mentioned overhead resistance holds as resistance, our bias continues to point lower. Support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1100 level with a turn below that level targeting the 1.1050 level. Its weekly RSI is bearish and pointing lower suggesting further downside pressure. Conversely, resistance is seen at 1.1350 level with a cut through here opening the door for more upside towards the 1.1409 level. Further up, resistance lies at the 1.1450 level where a break will expose the 1.1500 level. All in all, EUR remains biased to the downside in the short term.


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