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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 11-14-2008 at 04:46 AM by FX-Forecaster.com
Bias: I look for 1.1932-58 to cap for losses below 1.1774-00 to extend losses to 1.1666 and 1.1550
I feel yesterday's high satisfies the 1.2010 reserve target and with bearish divergences now ranging from hourly through to even the weekly chart I am expecting losses to now develop. I suspect the 1.1932-58 area will cap and generate a reversal back below 1.1824 to 1.1774-00 at least. Take a little care here in case we see a correction. However, I feel the stronger argument will be for direct losses towards 1.1666 where a correction can again be seen. The eventual target is expected to stall close to the 1.1549 low.
For full analysis please open today's full report in PDF format.
I feel yesterday's high satisfies the 1.2010 reserve target and with bearish divergences now ranging from hourly through to even the weekly chart I am expecting losses to now develop. I suspect the 1.1932-58 area will cap and generate a reversal back below 1.1824 to 1.1774-00 at least. Take a little care here in case we see a correction. However, I feel the stronger argument will be for direct losses towards 1.1666 where a correction can again be seen. The eventual target is expected to stall close to the 1.1549 low.
For full analysis please open today's full report in PDF format.
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