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Consistent forecasting of price movement in today's Forex market is a forgotten art
that requires a deep understanding of price structure and development. The Daily
Forecaster is a comprehensive report that guides traders through the trading day
and is based on an integrated blend of techniques perfected by veteran analyst Ian
Copsey. Based on the techniques described in his popular book "Integrated
Technical Analysis" (published John Wiley and Sons.) Ian provides his unique and
insightful 9 page daily report to a wide range of traders which currently includes
hedge funds to banks and retail traders. Take a free trial to see why so many traders
rely on his unique analysis.
DAILY ANALYSIS FOR USDCHF
Posted 10-24-2008 at 05:19 AM by FX-Forecaster.com
Bias: I suspect the correction from 1.1712 should deepen today
While the 1.1712 high capped the downside wasn't very productive with the 1.1559 low holding this morning. We are going to seen the 1.1668-76 to preferably cap but also allow for 1.1712 again. While these cap there is more chance of losses I feel. A break below 1.1590 will assist a retest of the 1.1559 low and probably breach to allow the correction to deepen to 1.1485-00 at least. Take care there as this may just hold. Only breach would indicate a slightly deeper correction to 1.1412 and possibly 1.1369.
For full analysis please open today's full report in PDF format.
While the 1.1712 high capped the downside wasn't very productive with the 1.1559 low holding this morning. We are going to seen the 1.1668-76 to preferably cap but also allow for 1.1712 again. While these cap there is more chance of losses I feel. A break below 1.1590 will assist a retest of the 1.1559 low and probably breach to allow the correction to deepen to 1.1485-00 at least. Take care there as this may just hold. Only breach would indicate a slightly deeper correction to 1.1412 and possibly 1.1369.
For full analysis please open today's full report in PDF format.
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