Friday, February 24, 2012

Forex pairs to observe-2.23.2012

Eur.Usd and Usd.Chf

I am looking at very simple set ups on these two pairs. Eur.Usd had a nice break out towards the north today and is currently going sideways ready to retrace. I don’t expect a big retracement on this pair, perhaps towards 1.3342 or 1.3324 area before it decides to continue further north. The fib target for the current swing is at 1.3497 so take caution around this area. Usd.Chf took a nice beating by the bears today and is also currently looking to retrace. Resistance levels can be found around 0.9035 and R2 around 0.9084, if resistance hold I will be looking to short this pair.

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