TECHNICAL REPOR FX T CURRENCY OUTLOOK SWISS FRANC LONG-TERM TECHNICAL OUTLOOK
Te Swiss Franc remains in a long- term uptrend but since reversing from the early 2015 peak has settled into a relatively narrow range. Te latest bounce commenced from close to the 2 year support line and is heading back towards last November’s rally high, where fresh resistance may emerge, triggering another dip.
As yet, the
overall trading range is favoured to persist, but with a recent golden cross of the 13 & 52 week moving averages, there appears to be a slightly greater likelihood of an upside break-out over coming months.
Basket / NZD - G10 Index NORWEGIAN KRONE LONG-TERM TECHNICAL OUTLOOK Basket / CAD-G10 Index
Te Norwegian Krone broke down from an almost 6 year trading range
Source: Tradermade
during 2014 and extended losses from the peak established back in
2008 peak until the turn of 2015 / 2016. Te low was almost spot- on the base of a 7 year bear channel and since then a modest recovery phase until October 2016 now shows signs of having developed a double top for an initial period of weakness. However, MACD does not yet signal a sustained return to weakness and scope exists for a higher low to develop above last June’s higher low for a renewed recovery phase over coming months, heading back towards
former resistance at the February / May 2015 highs. FX TRADER MAGAZINE April - June 2017 53
Source: Tradermade
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