MTI Analyst Articles

Forex Technical

BULLS vs BEARS: The story of the EUR/USD and the USD/CHF

January 26, 2010

 

Jose Tormos - FXMVP

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Chart Analysis

 

• On this chart here to your right you can plainly see the USD/CHF trending in similar fashion but in the opposite direction to the EUR/USD currency pair below. Through technical analysis you can see spatially that the candles are now in the buy zone and a bull position would be ideal up until the market completes its Fibonacci extension run. In order to take advantage of this trend we would wait for bullish candlestick formations to enter in the direction of the trend like the bullish engulfing candle shown on the chart until again the Fibonacci extension is completed which in turn we would then expect bearish pullback.

 

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Chart Analysis

 

• On this chart here to your right you can plainly see the EUR/USD trending in similar fashion but in the opposite direction to the USD/CHF currency pair above. Through technical analysis you can see spatially that the candles are now in the sell zone and a bear position would be ideal up until the market completes its Fibonacci extension run. In order to take advantage of this trend we would wait for bearish candlestick formations to enter in the direction of the trend until again the Fibonacci extension is completed which in turn we would then expect bullish pullback.

 

Want to learn more about this strategy?

Analysis

Here at MTI we pride ourselves on our flagship trading software, MTI 4.0. It features easy to use drawing tools, technical indicators and charting capabilities. In this article we explain how forex technical analysis works by providing informative articles on the most popular and widely used forex technical indicators and chart reading basics. Traders are welcome to read on about our examples of how these technical indicators generate trading signals, examples of some trading strategies, and also explain the information that can be observed through spatial intelligence about the conditions of the market at any given moment.

 

All of the analysis is done using the MTI 4.0 charting software, practice these, and other great strategies for FREE, by downloading a 14 day trial of MTI 4.0 charting.