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.


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

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