Friday, April 15, 2016

DAILY FORECAST FOR USDCHF

INTRADAY CHART
BIAS:      We have a similar outcome as EURUSD - momentum still seems to favour a new corrective high


Resistance: 0.9687 0.9725 0.9740-62 0.9786
Support: 0.9658 0.9637 0.9614-20 0.9590

MAIN ANALYSIS:   We have the same situation as EURUSD. Here the 4-hour Price Equilibrium Cloud is pushing higher and at an angle that suggests we shall see price push higher. A break above yesterday's 0.9687 high would generate - probably in 3 waves - a move into the 0.9720-62 area and most likely towards the middle-high. We shall need solid bearish divergences - certainly hourly and potentially 4-hour - to suggest a bearish reversal. There may be the chance of a test towards the 0.9786 high but I doubt it would move above.

COUNTER ANALYSIS:    It will take a break below the 4-hour Price Equilibrium Cloud low - currently at 0.9614-20 (the Wave b correction) to suggest more direct losses back through 0.9590 and 0.9560-65 to the 0.9542-47 area at least…

Good trading
Ian Copsey

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