Dollar/Swiss continues to weaken, closing lower for a fourth week in a row after ending its two-week correction at 0.9340 in late Mar’2011. Guest post by www.fxtechstrategy.com This development now leaves USDCHF targeting further declines towards its psycho level at the 0.8600 level where a breach will set the stage for more weakness towards other psycho levels at the 0.8500 level and subsequently the 0.8400 levels. Its weekly momentum studies are bearish and pointing lower suggesting further weakness. Alternatively, on a corrective recovery, the pair will initially aim at the 0.8779 level, representing its April 21’2011 low with a turn above there pushing it further higher towards its Mar 16’2011 low at 0.8897. We expect a reversal of roles as resistance to occur at this level and turn the pair back down in the direction of its long term downtrend. 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 NZD/USD Outlook – May 2-6 Anat Dror 12 years Dollar/Swiss continues to weaken, closing lower for a fourth week in a row after ending its two-week correction at 0.9340 in late Mar'2011. Guest post by www.fxtechstrategy.com This development now leaves USDCHF targeting further declines towards its psycho level at the 0.8600 level where a breach will set the stage for more weakness towards other psycho levels at the 0.8500 level and subsequently the 0.8400 levels. Its weekly momentum studies are bearish and pointing lower suggesting further weakness. Alternatively, on a corrective recovery, the pair will initially aim at the 0.8779 level, representing its April 21'2011 low with a turn… 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.
