Although Dollar/Swiss sustained a marginal loss on Friday possibly trying to initiate a recovery higher, its overall long term downtrend continues to dominate. Guest post by www.fxtechstrategy.com It opened the week lower as at the time of this analysis today and now looks to return below the 0.8779 level, its 2011 low with a firm break and hold below that level pushing USDCHF towards the 0.8700 level, representing its psycho level. Further down, risk exists for more declines towards the 0.8600 and 0.8600 levels. Its daily and weekly RSI are bearish and pointing lower supporting this view. Alternatively, a break and hold above the 0.8944 level will have to occur to reduce its present bear pressure and then open up further upside risk towards the 91.66 level and subsequently the 0.9368 level, its Mar 09’2011 high. We expect that level to cap gains if seen and turn the pair lower. All in all, the pair remains vulnerable to the downside and looks to recapture the 0.8779 level and possibly lower. 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 US Default and Currencies Yohay Elam 12 years Although Dollar/Swiss sustained a marginal loss on Friday possibly trying to initiate a recovery higher, its overall long term downtrend continues to dominate. Guest post by www.fxtechstrategy.com It opened the week lower as at the time of this analysis today and now looks to return below the 0.8779 level, its 2011 low with a firm break and hold below that level pushing USDCHF towards the 0.8700 level, representing its psycho level. Further down, risk exists for more declines towards the 0.8600 and 0.8600 levels. Its daily and weekly RSI are bearish and pointing lower supporting this view. Alternatively, a break… 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.
