Chart Analysis: GBP/CHF

Tuesday, October 27, 2009

There is not a specific currency pair in focus today, but the recent moves in this currency pair are a great example of the 0.618 Fibonacci in action. First we had a major low established recently and then we saw a very strong rally taking out some key resistance levels followed by a sell-off that exactly bottomed out at the 0.618 Fibonacci of the first corrective wave. The outlook looks higher from here as long as we maintain above the 1.6380 area low.

2 comments:

Forex Blog Money October 27, 2009 at 10:28 PM  

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Anonymous October 28, 2009 at 12:09 AM  

Do you know the forum fxstreet? There is a thread there that a member posts charts and like opinions for the CHF. What do you think? I follow that thread and since you know about the currency maybe you can tell me what you think
http://www.fxstreet.com/forum/showthread.php?p=77457#post77457
Regards

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