Gbp/Chf

GBPCHF had broken the resistance level at 1.4925 with a strong bullish movement yesterday. Now, if I see the H4 chart, I think GBPCHF still in strong bullish movement and has a potential to continue going up to the next resistance level at 1.5012.

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The Euro has been on the back-foot against a firmer Dollar, which also lost part of its shine following a rather uneventful monetary policiy statement by the Fed, very much in-line with expectations.

This pair had a short-term bias is neutral, but for the medium term remains bearish, resistance is at 1.5024, where the pair break above this resistance would keep a neutral bias.

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

adx : 48.4721
+di : 32.6502
-di : 12.6140
timeframe : 1 hour

time : 1900
date : 25.10.2012

Gbp/chf technical analysis for 26.10.2012 by using : Auto pivot indicator.

resistance 3:1.5274
resistance 2:1.5179
resistance 1:1.5129

pivot point :1.5034

support 1:1.4984
support 2:1.4889
support 3:1.4839

If we look the yesterday movement, GBPCHF moved in great bullish movement yesterday. According to the yesterday movement, I think GBPCHF still has a power to continue going up today. GBPCHF in my view, may breaks the resistance level at 1.5104 and the next target is at around 1.5192 resistance level

Elliott: elongated flat correction up 1.5155
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5162 or 1.5126 if support around 1.5033 hold. After which a pullback to 1.5033 - 1.5008 zone is possible.
Warning: Imminent end of bullish move
Technical points
Key point 1.5139
Entry point 1.5032
Elliott 1.4822
Closing 1.5076
Projection 1.5155
Trendline 1.4923
Trendline 1.5026
Supports / Resistances
Res 2 1.5177
Ex-High 1.5084
Res 1 1.5126
Pivot 1.5033
Sup 1 1.4983
Ex-Low 1.4940
Sup 2 1.4890

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

adx : 30.7134
+di : 11.9634
-di : 25.1911
timeframe : 1 hour

time : 1900
date : 26.10.2012

GBPCHF next week

Elliott: flat correction up 1.5187
It should trade higher to 1.5168 while 1.4995 or 1.4936 offers support. Stop loss below 1.4877 zone.
Warning: Engulfing pattern
Technical points
Key point 1.5132
Entry point 1.4977
Elliott 1.4822
Closing 1.5050
Projection 1.5249
Trendline 1.4949
Trendline 1.4949
Supports / Resistances
Res 2 1.5287
Ex-High 1.5114
Res 1 1.5168
Pivot 1.4995
Sup 1 1.4877
Ex-Low 1.4822
Sup 2 1.4704

Couple badly shot up and now painted a very interesting situation, the level of which was once a support is broken down, and the price is fixed below ... so I think there is a chance that the price might as well go down ..