Hot Charts: USD/CHF
Forex Trade Idea: USD/CHF
USD/CHF – 0.9484
Trend : Near term up
Tenkan-Sen level :0.9474
Kijun-Sen level :0.9464
Ichimoku cloud top :0.9462
Ichimoku cloud bottom :0.9431
New strategy: Sell at 0.9530, Target: 0.9405, Stop: 0.9565
Although the USD has risen again after finding renewed buying interest at 0.9430 and near term upside risk remains for recent rise from 0.9216 low to extend gain towards 0.9520-30, loss of momentum would prevent sharp move beyond there, bring retreat later, below the Ichimoku cloud top now at 0.9462 would bring test of 0.9430-31 intra-day low and current level of the lower Kumo, break would confirm that a temporary top is formed, bring weakness to 0.9400, then test of last week’s low of 0.9382 which is likely to hold from here.
In view of this, the inclination is to sell USD on further rise. Above 0.9553-57, 1.618 times projection of 0.9216-0.9387 measuring from 0.9276 and 50% Fibonacci retracement of 0.9898-0.9216 would abort and risk gain to 0.9585-90 later.
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Heffernan Capital Management
Business Development Director – Private Client Group,
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
Chinese Society of Economists
American Economic Society
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