Wednesday, January 28, 2015

EUR/CHF Euro Swiss Franc Technical Market Analysis

Because of the heavy move in EUR/CHF we should consider a technical look into this market, out of curiosity and diversity. As it was a substantial knee-jerk move we will start out with the macro Yearly bars chart. With looking at this macro chart, we can see that the market actually one time framing lower since 2008. 2009 was a calm inside year followed by the 2010 drop and the buying tail year 2011. After three years of "balance" and inside bars the market continues its one time framing lower behavior with a smashing Thursday (15th January 2015) and a new low below 1.0000.

The monthly bars chart presents the same knocked down picture and we can see the potential break of one support level.

The weekly bars chart established a potential support level:

Looking at the daily perspective, we can observe some more interesting things. We can identify a balance area and with the installed Fibanocci tool we can observe a potential area which could be rejected. Possible is a move back to the bracket low as well as a move towards to the 61.8% level.

With the same timeframe but installed EMAs, we can see the market opened above 5EMA and tested 10EMA with resistance:

To see some more details we can zoom in with a 240 minute chart. With this timeframe we can see a possible break above our balance area. This could lead us to the next marked resistance level:

All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.