Finotec News Archive - May 08 2008
Technical oscillators support the bearish trend for the currency pair
USD/CHF – Market strategy can be a sell at the level 1.0584Joana Fonseca
08 May 2008
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USD/CHF – Market strategy can be a sell at the level 1.0584
Technical oscillators support the bearish trend for the currency pair
To support our analysis we will use oscillators such as MACD (Moving Average Convergence Divergence); we see that the selling pressure is gaining traction; also we notice that the signal line crossed the long EMA line down and both are pointing to cross the zero line down, revealing a downward tendency. The prices are getting close of the up Bollinger band, which may reveal an overbought. RSI (Relative Strength Index) gives us the power of the market; its line is in a bearish direction.
Finotec Analysis Team
08 May 2008
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Today's Economic Events
Time  |
Event |
Currency
|
Period | Previous | Forecast |
Significance
|
Actual | |
|---|---|---|---|---|---|---|---|---|
| 14:00 | Wholesale Inventories m/m | USD | Mar | 1.1% | 0.5% |  | -0.1% |  |
| 12:30 | Unemployment Claims | USD | Weekly | 380K | 370K | | 365K | |
| 05:45 | Unemployment Rate | CHF | 2.5% | 2.5% | | 2.6% | | |
Real Time Forex Quotes
| Contract | Bid | Ask | Time | Change |
|---|---|---|---|---|
| USD/CHF | 1.0549 | 1.0554 | 11:25:34 | -0.00% |