Special Focus: USDCHF
Thursday, January 26, 2012
by Mohammed Isah of FXTechstrategy.com
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USDCHF – Under Pressure, Weakens Through The 0.9240 Level.
USDCHF: The pair continues to weaken and remain vulnerable to the downside. This coming on the back of a break below the 0.9240 level, leaving USDCHF targeting further declines towards the 0.9175 level, its Dec 08’2011 low. A halt may occur here and turn the pair back up but if that level breaks, lower level prices could shape up towards the 0.9063 level, its Nov 30’2011 low. Its daily and weekly RSI are bearish and pointing higher supporting this view. Alternatively, on any recovery, the pair will aim at the 0.9504 level, its Jan 13’2012 low with a loss of there turning risk towards the 0.9591 level. Above here is required to resume its medium term uptrend and shift attention to the 0.9772 level, its Feb 11’2011 high. Further out, a violation of there will allow the pair to strengthen further towards the 0.9913 level, its Dec 07’2010 high followed by its psycho level at 1.0000 level. On the whole, the pair remains biased to the downside on further correction.
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report
Mohammed Isah is a Technical Strategist and head of research at FXTechstrategy.com, a technical research website. He has been trading and analyzing the foreign exchange market for the past 7 years.
He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXTechstrategy.com. Mohammed has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, Thestreet.com, MoneyShow, The Technical analysis of Stocks & Commodities Magazine, Businessinsider and FXstreet.com
At FXTechstrategy.com he writes daily and weekly technical commentaries on currencies and commodities which are offered to its clients. He provides full coverage of the forex market with specific daily focus on 7 currencies (EURUSD, GBPUSD, USDJPY, EURGBP, EURJPY, AUDUSD and USDCAD) and the Dollar Index utilizing various technical tools and strategies. He also covers the commodities market twice in a week focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN, WHEAT and CRB Index. 
