Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

Swiss Franc Follows the Euro

By , Sr. Technical Strategist
05 April 2006 09:27 GMT
Such a scenario might find sellers at the Tokyo session reaction high / 50% fibo of 1.3283-1.2553 at 1.2920.  Further advances give scope to a return of yesterday’s breakout level / 20 and 50 day SMA’s at 1.3020/25.  A resumption of the downward move from 1.3134 opens the door for a test of the 61.8% fibo of 1.2551-1.3235 at 1.2813 with a break below finding the 50% fibo of the bull move from 1.2235 at 1.2760.  Similar to the other majors, MACD is in pre-breakout form with a recent cross very close to the 0 line.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

05 April 2006 09:27 GMT