The EURCHF opened with a 20 pip gap down yesterday afternoon. This presented a short-term trading opportunity to enter long and look to take profit as soon as the gap closed. I decided against entering this gap trade because neither the EURUSD or USDCHF appeared to have any gap at all, nor was there any recollection of the gap on the news wires.
As I write this the pair is sitting at 1.5247, right at resistance from the end of last week. If we can break the 1.5250 level convincingly then I should be able to ring the register on some nice pips from my 2nd long position.
What do you think about ac-markets resistances and support level?
ReplyDeletehttp://www.ac-markets.com/forex-news/daily-forex-news.aspx
Please, reply!
Thanks!
My observation of this pair, the EURCHF, is that it will follow either the EURUSD or USDCHF during intra-day moves. AC-Markets first resistance level for the USDCHF is right at today's high. The move in the EURCHF this morning was basically following the USDCHF up so knowing this resistance level could be very helpful. Thank you for bringing this link to my attention, I'll be paying more attention to their data to see how accurate they are.
ReplyDeleteHere is a sample of what I get every day. Please compare it to ACM and let me know the results.
ReplyDeleteDOLLAR-SWISS TECHS: Chf1.0592-1.1026 range to hold
RES 3 Chf1.1158 19 March low
RES 2 Chf1.1026 24 June high
RES 1 Chf1.0956 6 July high
CURRENT LEVEL: Chf1.0854
SUP 1 Chf1.0818 Previous res
SUP 2 Chf1.0732 Y`day`s low
SUP 3 Chf1.0622 21 July low
COMMENTARY: Rally to Chf1.0908 yesterday suggests further swings in
Chf1.0592-1.1026 range is seen above Chf1.0908 extends rise from
Chf1.0622 (July 21 low) to Chf1.0956 (July 6 high) but prominent bearish
divergence may appear on hourly oscillators on such move that upper
trading band likely to cap upside retreat later.