The outlook for EURCHF remains to the downside following its loss of upside momentum at the 1.3238 level, its 2011 high. With continued declines seen at the end of the week, risk of further weakness is building up towards its major support at the 1.2422/04 levels, its Dec’2010/Mar’2011 lows. Guest post by www.fxtechstrategy.com The cross is expected to find a breather there on an initial test but it should ultimately be breached and send the cross further lower towards its psycho levels at the 1.2300 level, the 1.2200 level and the 1.2100 level in the days and weeks ahead. This view is supported by its bearish weekly RSI which is pointing lower. On the other hand, EURCHF will have to break and hold above the 1.2728 level, its April 18’2011 low to signal any serious strength. This will open up further upside scope towards the 1.2973 level, its April 20’2011 high followed by its April 13’2011 high at 1.3043 with a penetration and negation of that level putting the cross in a position to strengthen further towards its 2011 high at 1.3238. Above here will resume its medium term uptrend towards the 1.3325 level and possibly higher. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next AUD/USD Outlook May 9-13 Yohay Elam 12 years The outlook for EURCHF remains to the downside following its loss of upside momentum at the 1.3238 level, its 2011 high. With continued declines seen at the end of the week, risk of further weakness is building up towards its major support at the 1.2422/04 levels, its Dec'2010/Mar'2011 lows. Guest post by www.fxtechstrategy.com The cross is expected to find a breather there on an initial test but it should ultimately be breached and send the cross further lower towards its psycho levels at the 1.2300 level, the 1.2200 level and the 1.2100 level in the days and weeks ahead. This… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
