Swiss Franc And Canadian Dollar Technical Outlook

Swiss Franc Technical Outlook

The Swiss Franc showed incredible strength against the US Dollar through recent trade, but a sharp USD/CHF reversal off of important Fibonacci support suggests that further short-term corrections are likely.

The 1.0670 mark represents the 61.8 percent Fibonacci retracement of the 1.2300-0.9640 move, and said level may continue to contain declines through near-term price action. Shorter-term, subsequent resistance can be found at recent spike-highs of 1.1136.

Canadian Dollar Technical Outlook

The US dollar has found a base against the Canadian Dollar at the 1.2000 mark, representing the confluence of the USD/CAD’s short-term rising trendline and the 38.2 percent Fibonacci retracement of the 1.0300-1.3020 move.

Said level is likely to contain any short-term declines in the USD/CAD, while intraday spike-highs near 1.2400 represent subsequent support. A break below 1.2000 would negate our short-term bullish bias.

[ForexGen Money Manager]

An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.

Benefits of being a Money Manager with [ForexGen]:

* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”

The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.

The most competitive trading conditions:

* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.