USD/CHF Technical Analysis For May 5, 2011
The USD/CHF poked through the lows today, but ended up printing a hammer around the 85 level showing a possible bounce form that level. The pair looks to be oversold and certainly could use a bit of a bounce as it could attract new sellers, especially if we could get to the 0.90 area, which was the point of our last major breakdown. However, we do not recommend buying this pair as the downtrend is so strong.
Originally posted here
Read more about forex technical analysis, forex fundamental analysis and forex news on ForexMansion.com
www.ForexMansion.com is a part of the Finance Mansion Network which operates global financial websites. Our goal is to provide our readers with the most accurate, quality and up-to-date technical analysis, fundamental analysis and news in order to assist them in making the right financial decisions.
The Finance Mansion Network includes www.FinanceMansion.com,www.ForexMansion.com, www.StocksMansion.com, www.CommoditiesMansion and many more.