Igtfx technical analysis - page 4

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EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,

IGTFX technical analysis, Intraday Support & Resistance (Daily)

Support Levels around Resistance Levels around

N/A 1.4399

N/A 1.4530

N/A 1.4646

EUR/CHF Weekly Outlook

Despite dipping to 1.4294 briefly, there was no follow through selling and EUR/CHF recovered back into familiar range. Outlook is turned neutral again and more choppy sideway trading might be seen. On the downside, break of 1.4294 will argue that rebound from 1.4143 is completed at 1.4465 already and turn bias to the downside for this support first. On the upside, above 1.4386 will suggest that stronger recovery might be seen. But after all, we'd continue to expect strong resistance near to 1.4557 support turned resistance to limit upside and bring fall resumption sooner or later.

"P&F EURCHF1440 Box Size 100X3 or(1.94%) HI/LO

Data 1.6827 - 1.4144 ~ 92 Month ~ 2811 Day

Database 2000 records 1.43556 (Last Close)

2002-08-16 00~00

2010-04-27 00~00 (GMT+01:00) Paris

BJF Trading Group chart"

1.6800|~1OO||____________X_________________________|0.16%|18.78%

1.6700|~2OO||____________XoX_______________________|0.75%|18.07%

1.6600|~3OO||__________X_XoXo______________________|1.35%|17.36%

1.6500|~4OO||__________XoXoXo______________________|1.94%|16.66%

1.6400|~5OO||__________XoXoXo______________________|2.54%|15.95%

1.6300|~6OO||__________XoXo_o__X_X_________________|3.13%|15.24%

1.6200|~7OO||__________Xo___oX_XoXo________________|3.73%|14.54%

1.6100|~8OO||__________X____oXoXoXo________________|4.32%|13.83%

1.6000|~9OO||__________X____oXoXo_o________________|4.91%|13.12%

1.5900|~1OOO|__________X____o_oX__o________________|5.51%|12.42%

1.5800|~11OO|X_X_____X_X______oX__o________X_______|6.1%|11.71%

1.5700|~12OO|XoXo____XoX______oX__o________Xo______|6.7%|11%

1.5600|~13OO|XoXo__X_XoX______oX__o________Xo______|7.29%|10.29%

1.5500|~14OO|Xo_oX_XoXo_______oX__oX_____X_Xo______|7.89%|9.59%

1.5400|~15OO|X__oXoXoX________o___oXo____XoXo____X_|8.48%|8.88%

1.5300|~16OO|X__oXoXo_____________oXo____XoXo____Xo|9.07%|8.17%

1.5200|~17OO|X__oXoX______________oXo____Xo_o____Xo|9.67%|7.47%

1.5100|~18OO|X__o_o_______________o_o__X_X__oX_X_Xo|10.26%|6.76%

1.5000|~19OO|X______________________o__XoX__oXoXoXo|10.86%|6.05%

1.4900|~2OOO|X______________________oX_XoX__oXoXoXo|11.45%|5.35%

1.4800|~21OO|X______________________oXoXo___o_oXoXo|12.05%|4.64%

1.4700|~22OO|X______________________oXoX______o_oXo|12.64%|3.93%

1.4600|~23OO|X______________________oXo_________o_o|13.23%|3.22%

1.4500|~24OO|_______________________oX____________o|13.83%|2.52%

1.4400|~25OO|_______________________o_____________o|14.42%|1.81%

1.4300|~26OO|_____________________________________o|15.02%|1.1%

1.4200|~27OO|_____________________________________o|15.61%|0.4%

1.4100|~28OO|______________________________________|16.21%|-0.31%

Column|||||||13374453531465483893314153537361344581|

Count||||||||3_________1__________2_1_______O_____2|

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A look at the CHF, its historical use as a safe haven currency.

P&F =>>> Chf\Jpy & Jpy\Chf; Usd\Chf; Gbp\Chf; Eur\Chf and Chf Index.

=>>>img88.imageshack.us/img88/9812/10dec191731.pdf

BJF Trading Group. Excel Chart. Full size attached.

[igtfxplatforms]

Times To Trade

Times To Trade

Trading the OTC (over the counter) currency markets offers an opportunity to hedge stock and bond investing, but really is more of a traded market following the ebbs and flows of global commerce than it is an investment arena to plan retirement from. Getting to know six major currency pairs would seem an easy task when compared to the tens of thousands of stock and bond options available for analysis.

Forex trade is not all about how each currency will move against the Usd, just as important is knowing when the market will have momentum, because that is key to not getting caught in reversals and snap-backs whilst leveraged at 100:1.

Setting times to trade really does make a lot of sense with the near-term view that forex valuations carry, and the fact that each 24 hour period has to absorb three regional commercial market's trade, in Asian, Europe and the U.S.

There are three main forex moving times that regularly garner attention, and therefore offer an ability to move prices with momentum. They are the 2am EDT German Dax futures market getting underway, the 6-7am EDT London gold/oil fixings and LIBOR rates being set, and the 11am EDT European market close.

Outside of that, the return from lunch in Japan between 11pm EDT and midnight, and the closing of the NYMEX markets at 2.30 pm EDT really are the only other times that prices move substantially and then hold.

At the end of the U.S. session the pattern is for Asian markets to try and initially reverse U.S. trade direction, although the lack of volume tends to soon allow pairs to find and hold support areas. The European markets tend to move in the same direction as Asian trade, and then Chicago based futures movement will try to reverse things back in the direction of where the U.S. previously closed, and re-set their books as the London fixings are placed between 5-6am EDT.

At 10:30am GMT in London, telephone bids for the gold and oil fixings take place, something that sets the morning clearing prices for bullion and crude dealers that (are then adjust once again at 3.30pm GMT). At 11am GMT each day in London the British Bankers Association set the inter-bank LIBOR rates, something that sets the tone for lending rates between financial market participants.

The London fixings tend to force Chicago based futures markets into a re-alignment program at 06:00 EDT that replicates the newly set fair values on oil, gold, and lending rates, and by default tends to then impact Usd based currency values. It is rare for the U.S. not to push back each morning and reverse the pattern of forex trade that came before, especially if a sizeable move has happened in overnight forex trade.

Forex traders really need to know what is going to trigger the technical set-ups, and therefore be prepared to ride momentum while it lasts, and to cap expectancy and exposure in things are moving against the near-term trend. In the trading forex arena there are different things to look for than in the equity and bond investment world; a week in forex absorb fifteen regional equity market moves, and all of which are movinmg for varying commercial regions, and using foreign exchange to hedge commitments, repatriate overseas profits, align reserve values, and garner swap interest.

The European and NYMEX close (11am EDT and 2.30 pm EDT are the U.S. based things to get out of the way, because then, maybe, the equity markets can reveal where they really want to go, and by default send the Usd in the opposite direction. Traders looking for moves outside of 2am, 6am, 11am, and maybe 2:30 EDT, may just find themselves sitting and waiting, wondering why they just bought the high of the day that then reversed.

Try it out, take a look at a volume study in forex futures, or look at the longest daily 30 minute candles, and see on average what time they hit. Then look at the times that nothing happens. That is not luck, it is the forex market tagging along, following the ebbs and flows of global commercial trade.

As the global economy travels trades its way out of the business cycle trough phase, the leaning is towards looking at S&P futures trade to confirm near-term sentiment, and risk tolerance. The speculators are never too far away from the S&P in times of fear; either selling into the fear of loss, or buying into the fear of missing profits. That is the reason for so much near-term volatility, and that is how things will stay until signs of GDP expansion are seen globally.

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