USD/CHF
We can identify a clear and sharp downtrend for the pair during the last few weeks. The bearish envelope template appeared during the 06-10-2010 and 07-10-2010 sessions suggest a close reversing trend, creating an opportunity for a “Long”.
USD/CHF
We can identify a clear and sharp downtrend for the pair during the last few weeks. The bearish envelope template appeared during the 06-10-2010 and 07-10-2010 sessions suggest a close reversing trend, creating an opportunity for a “Long”. In order to catch this opportunity, we suggest looking for an ascending configuration on the one-hour graph.
According to our opinion, the required configuration will be created if the once the resistance 0.9711 will be crossed upward.
Potential trade
· “Limit” order on “Long” position 10 pips above the resistance mentioned previously, meaning 0.9701.
· “Stop Loss” order on the last low occurred: 0.9592
Daily graph: http://www.real-forex.com/charts-daily/111010/CHF_DAILY_111010.JPG
One hour graph: http://www.real-forex.com/charts-daily/111010/CHF_1H_111010.JPG
USD/CAD
Daily graph: http://www.real-forex.com/charts-daily/111010/CAD_DAILY_1101010.JPG
For the last few weeks, the pair doesn’t follow any specific trend. However, three days ago, the currency crossed a very important support level for a daily graph at 1.0111. Once crossed, a bullish envelope template appeared. A breach of the 07-10-2010 would confirm the template, suggesting a reversing trend upward oriented, creating an opportunity for a “Long” transaction.
We suggest waiting for the breach required, and looking for an ascending configuration on one hour graph in order to enter the transaction.
Have a nice day!
Real forex team
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