S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketFacts:
EURCHF bounced off the key resistance at 0.9205
Mid-term trend from mid-January remains downward
Recommendation:
Trade: Short position on EURCHF at market price
Target: 0.9148, 0.9125
Stop: 0.9218
Opinion: EURCHF reached a key technical resistance which is marked with an upper limit of 1:1 structure as well as 38.2% Fibonacci retracement of the recent downward move started at 21 of January. Looking at the H4 interval, the resistance is also marked by previous price reactions and. In addition the price sits below the 100-period moving average. According to the Overbalance methodology, as long as the price sits below the aforementioned area, one should expect price to continue the downward move. We recommend going short EURCHF at market price with two targets: 0.9148 and 0.9125. We also recommend placing a stop loss order at 0.9218. Source: xStation5
