EUR/USD, EUR/CHF Chart Watch 7/6/2011 (Euro, Dollar, Swiss Franc)

Below are EUR/USD and EUR/CHF short and long term symmetrical triangles, descending channels and support levels to watch (charts courtesy of freestockcharts.com). In my opinion, 1.43 (or 1.42816 is the 11/2010 blow off top) is a very important support level to hold. If it busts through that level, EUR/USD could test the first and second symmetrical triangle support levels. If you look at the long term chart though, you will see that EUR/USD is still in a rising trend. Watch out for interventions by central banks like China. EUR/CHF is in a nasty downtrend and 1.18 is the recent low. See more charts after the jump (click for larger view).







Charts from FreeStockCharts.com

Previous posts:

EUR/USD, EUR/CHF Look Weak, Broke Near-Term Support (Charts, News) - July 5

Moody's Downgrades Portugal to Ba2 (Junk); Yields, Spreads, CDS Not At New Highs (Yet) - July 6

Comments

  1. eur/usd bounced off 1.43 support.

    http://www.flickr.com/photos/dvolatility/5908830992/

    ReplyDelete
  2. WooHOO! @Dvolatility was the number one featured attraction on J.C. Parets  today. With this very chart. Nice, for a self-described "rogue junior trader"!
    I'm happy to see that you receive recognition. Actually I've seen it before, (the CME commended you on Twitter awhile ago), but more is always a good thing.

    ReplyDelete
  3. Ha, thanks.

    -rogue junior technical analyst

    ReplyDelete

Post a Comment