Daily Forex Analysis – USDCHF Analysis - November 24, 2010
| FX Technical |
USDCHF Analysis.
After touching 0.9855 support, USDCHF rebounded from 0.9848 level, suggesting that a cycle bottom has been formed on 4-hour chart. Now the rise from 0.9848 could possibly be resumption of uptrend, another rise to 1.0200 would likely be seen in a couple of days.
Oil Is Shell Shocked
North Korea’s shelling of a South Korean Island is raising fears of a global catastrophe and the impact on oil might be dramatic. Overnight in what is being called the most aggressive attack since the Korean War Cease fire back in 1953 North Korea's shelling of South Korea is shaking up global commodity markets. Oil prices are falling with traders seeking safe haven in the US dollar as they wait and try to figure out just what the heck is behind North Korea's aggressive action. North Korea, without provocation, decided to shell a South Korean Island and as reported by the New York Times. |
