Eur/Chf

Eur/chf technical analysis for 16.10.2012 by using : Auto pivot indicator.

resistance 3:1.2115
resistance 2:1.2106
resistance 1:1.2095

pivot point :1.2086

support 1:1.2075
support 2:1.2066
support 3:1.2055

EUR/CHF's recovery attempt was limited at 1.2142 and then dipped through 1.2079 support to as low as 1.2057 last week. Overall outlook remains unchanged. Consolidation from 1.2184 is still in progress. But downside should be contained by 1.2035 minor support and bring recovery.

The U.S. dollar dropped to a more-than one week low against the Swiss franc on Tuesday, as concerns over global growth eased and hopes for Spanish bailout dampened demand for the safe haven greenback.

USD/CHF hit 0.9285 during European early afternoon trade, the pair’s lowest since October 5; the pair subsequently consolidated at 0.9287, shedding 0.47%.

The pair was likely to find support at 0.9245, the low of September 17 and resistance at 0.9334, the session high.

Risk appetite was boosted after official data on Monday showed that U.S. retail sales rose by a seasonally adjusted 1.1% in September, beating expectations for a 0.8% increase.

The data came after better-than-forecast Chinese trade data over the weekend eased concerns over a slowdown in the world’s second largest economy.

In the euro zone, the ZEW Centre said that its closely watched index of German economic sentiment improved to minus 11.5 in October from September’s reading of minus 18.2. Economists had forecast a reading of minus 15.0 this month.

Investors were looking ahead to Thursday’s European Union summit amid ongoing speculation over whether Spain will formally request a bailout from its euro zone partners in the coming weeks.

A bailout request would trigger a bond buying program by the European Central Bank, aimed at lowering peripheral euro zone borrowing costs.

On Monday, Greek government officials indicated that an agreement with international creditors on deficit reductions is unlikely to be reached before the summit.

eur/chf technical analysis by using : average directional movement index

+di : 13.9491
-di : 16.3463
adx : 18.0434
timeframe : 1 hour

time : 1700
date : 16.10.2012

Elliott: common flat correction up 1.2143
Our preferred outlook is for a drift down to 1.2080 or below 1.2072. Resistances are at 1.2088 and 1.2091. A rise above 1.2099 would delay but not abort this expected fall.
Warning: Low Zone
Technical points
Key point 1.2090
Entry point 1.2089
Elliott 1.2060
Closing 1.2088
Projection 1.2111
Trendline 1.2088
Trendline 1.2090
Supports / Resistances
Res 2 1.2109
Ex-High 1.2101
Res 1 1.2099
Pivot 1.2091
Sup 1 1.2080
Ex-Low 1.2082
Sup 2 1.2072

Eur/chf technical analysis for 17.10.2012 by using : Auto pivot indicator.

resistance 3:1.2126
resistance 2:1.2115
resistance 1:1.2102

pivot point :1.2091

support 1:1.2078
support 2:1.2067
support 3:1.2054

eur/chf technical analysis by using : average directional movement index

adx : 40.8854
+di : 26.6086
-di : 6.5340
timeframe : 1 hour

time : 1100
date : 17.10.2012

Eur/chf technical analysis for 18.10.2012 by using : Auto pivot indicator.

resistance 3:1.2148
resistance 2:1.2131
resistance 1:1.2116

pivot point :1.2099

support 1:1.2084
support 2:1.2067
support 3:1.2052

EURCHF on bearish, that till now price move on bellow that strong pivot 1.2100. we can search again for sell, but please note always to use SL on above pivot 1.2100 = it's more better and wise action, I see

Elliott: irregular flat correction up 1.2163
Corrective dips should halt near 1.2071 for one more thrust upwards towards 1.2107. Stop loss below 1.2056 zone.
Technical points
Key point 1.2101
Entry point 1.2095
Elliott 1.2060
Closing 1.2100
Projection 1.2111
Trendline 1.2090
Trendline 1.2091
Supports / Resistances
Res 2 1.2129
Ex-High 1.2114
Res 1 1.2115
Pivot 1.2100
Sup 1 1.2085
Ex-Low 1.2085
Sup 2 1.2071