Stopped at BE in the EUR/USD after completing a short term breakout to the upside inversely we’ve had the usd/chf break to the downside and completing a perfect pullback I’ve entered short 0.9880 placing a tight stop in 0.9905/15 area and targeting the 38.2 + S2+ previous support between 0.9830 - 0.9800.

Good luck!

César B.Leiceaga

Above the daily pivot and previous resistance now turned support around 0.9680 level, we have strong resistance in 0.9850/60 area (R2 + 50% retracement) and above the 61.8% in 0.9810 + R3 in 0.9830.

Its a buy on dips to support (red line), but maybe I’m too late here…

Regards.

César B.Leiceaga

Need a pullback between the 38.2% in 0.9840 that coincides with October 1st highs and the 50% retracement + trendline broken in 0.9860 area to short the pair now that the trendline has been drilled on a major USD selloff.

Although I’ll be extremely careful with the fundies coming out tomorrow specially with the FOMC, any technical setup can be blown away in a matter of seconds.

Stay tuned!

César B.Leiceaga

http://blogs.fxstreet.com/techtrading/2010/10/27/usdchf-testing-resistance/

Following up with yesterdays post, I’ve recently entered a long position at 0.9805 after retreating from key resistance in 0.99

This is my sweet spot where we find support confluence zone at the 50% retracement, minor bullish trendline, 100MA in 1 hour and previous resistance now turned support.

Lets see how it plays out!

César B.Leiceaga

At channel top and above long term 38.2% Fib in 0.9906, I’d love to have 100 pip pullback to long the pair to any of the fib levels from the swing low in 0.9660 drawn in th chart.

A very bullish sign would come with a weekly close above 0.99 level. Stay tuned!

César B.Leiceaga

http://blogs.fxstreet.com/techtrading/2010/09/22/usdchf-long-term-technical-perspective/

The USD is nearing all time lows against the swissy trading at 0.9660s while I write and I insist that we should see a technical rebound from here and I suspect that we have big stop orders below 0.9600 that could drag the price to 0.9500 if they get executed.

Now, what I think is that the pair is extremely oversold and a relief rally is on the way once the stop orders are filled. BUT we cannot risk buying in a downtrend until we have a confirmation of a reversal such as weekly reversal candle or a close above 0.9900 (in my opinion this zone should be our reference).

César B.Leiceaga

I guess everyone is aware of the swiss francs strength across the board and eur/chf making new all time lows below 1.2900. Consequently usd/chf is testing the 2010 low at 1.0130 area, but I found a reversal pattern in form of a falling wedge developing on the daily chart with bullish implications.

Assuming 1.0100 level holds and we have a daily close above 1.0300 we will leave it in “under surveillance” mode for a possible medium term long trade. Until then, for intraday purposes I’m looking to short on any rebound to resistance levels (1.0200/20, 1.0250, 1.0300) targeting parity level.

Ill keep you updated,

César B.Leiceaga

Remember stops placed below trendline support in 1.0800.

Strategy: Sell stop below 1.0800 Stops placed in 1.0920 targeting 61.8% Fib around 1.0600 and looking to reverse the position here.

Good luck!

César B.Leiceaga

Hi everyone,

Spotted an interesting situation on usd/chf, facing major trendline support at 50% retracement. We could get a rebound here but guessing were the stops are placed why shouldn’t we profit from their actions?? A stop hunt is more than probable and it could possibly extend to 1.0600 (61.8% FIB) after resuming the bullish trend.  Its all about swissy’s strength today…

César B.Leiceaga

http://bit.ly/aTXKev

Hi everyone:

We had the solid move up breaking above the long term bearish trendline giving a buy signal. Next resistance levels at 1.1100 figure (50% Fibo) ,1.1170 (March 2009 low) and 1.1200 (top of the bullish channel).

If you want to long the pair, I’d wait for a pullback to 1.10 - 1.09 if the market gives us the opportunity.

Good luck!

USD/CHF Daily:

César B.Leiceaga