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USDCHF trades in a range between 1.0394 and 1.0675. Another rise towards 1.0675 resistance is expected later today. As long as this level holds, the price action in the range is treated as consolidation of downtrend from 1.1730 (Jun 1 high), and another fall to 1.0300 is still possible, and a breakdown below 1.0394 could signal resumption of downtrend, only rise above 1.0675 could indicate that the fall from 1.1730 has completed at 1.0394 already.



Daily Forex Signals

Market Review - 26/07/2010 22:59 GMT

Euro surges above 1.30 as solid US economic data boosts risk appetite


Euro's choppy moves were seen in Monday's Asian morning following Friday's volatile price action in NY after the stress-test results were released. Although euro dipped briefly to 1.2856 in NZ trading as weekend news reported that European regulator CEBS had accused Germany and its banks of reneging on a deal to publish full details of a bank-by-bank disclosure of risk holding of sovereign debts, short-term speculators quickly took profits on lack of follow through selling and traders bought euro vs usd, yen, gbp and chf, lifting the pair to 1.2944 and then 1.2959 before retreating briefly to 1.2889. ...

Welcome to the FXReturn.com London Forex Market Call for July 27th.,2010. GBP/USD: Closes on the highs of the session as the market pierces the 1.5469 area triggering buying into the 1.5520 region. A close above 1.5520 will signal a rally up to 1.6030 longer term. A failure of the 1.5469 level will encourage selling down to the 10 day average at 1.5269. Stochastics, however, have turned up signaling more upside ahead in the next few trading sessions | GOLD: Closes near the lows of the session as the 10 day average acts as major resistance to the market. The next downside objectives are 1174.9 then 1165.4. Technicals are starting to turn negative | Daily FX Forum visitors can sign up for our FREE Live Interactive Webinars and Live Trading Room ...

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