mercredi 8 octobre 2008

USD/CHF daily chart


We are short from 1.1309, I have cut my first entry as I was not feeling the european morning session.
On daily analysis the 2 sen crossed on the upside, we are dealing above the cloud, and span is working on the downside but above the rates, and the cloud. All seems bullish.
But if we are taking times to analyse the moving average, and candlestick formation, we are watching interesting thing, we are working above the moving average, but the candlestick pattern is an bearish engulfment from yesterday, and we have the confirmation today, seems market is reversing at the present time, and there is also two things which is helping me to choose this way is the both indicators, MACD and RSI are showing bearish divergence .
These 3 elements are telling me that we can go first arround 1.1180 1.1080 1.0990-1.1000

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