in association with

Market Bulletin 15th April 2010

EUR/CHF Trying To Reverse

Earlier this year, following a clear break lower, it looked as though bears in the EUR/CHF cross
rate were running out of steam. However, a second wind saw a fresh move south which does, in
fact, look like a blow-off move, with recovery prospects improved.

The FX Trader’s view

WEEKLY CHART:

The latest slip back saw a

breach of the 1.4296 Oct-
09 low, but it is proving a
struggle to hold below this.

A lower Fibo projection at

1.4040 stays out of reach
for now.

Note the recent type of

‘doji’ week on this
candlestick chart, a week
of apparent indecision with
open and close near the
same level.

SEVEN DAYS AHEAD Professional trading guides and recommendations for the World's markets

Authorised and Regulated by the FSA 124 REGENTS PARK ROADLONDON NW18XL TEL +44 (0) 7849 933573
E-MAIL MSTURDY@SEVENDAYSAHEAD.COM WWW.SEVENDAYSAHEAD.COM
This information memorandum has been prepared solely for informational purposes for customers of Seven Days Ahead and is based on publicly available information from sources
believed to be reliable. It is not an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation is made as to the completeness or
accuracy of any statements or forecasts contained herein and no responsibility or liability is accepted for losses arising from transactions undertaken or investments purchased, sold or
held on its recommendation. Consequently, any persons acting on information contained herein do so entirely at their own risk. Although the opinions contained herein were
considered valid at the time of release, financial markets are subject to rapid and unexpected movements. Seven Days Ahead, its associated companies, their directors, employees,
other customers or connected persons may from time to time undertake transactions or deal in investments mentioned in this information memorandum or have a material interest,
relationship or arrangement in relation to them.
 in association with

DAILY CHART:

In the Commodity Specialist

Guide we had previously
suggested that a final, blow-off bear
move was being seen.

At this stage, though, the recovery

to the 23.6% level of the whole
Mar-09/Apr-10 decline now needs
to be followed by a break/close
above, in order to suggest a better
rebound phase is underway.

Then note next target around the

1.4640 38.2% level, which
interestingly is near last month’s
breakdown point (probably no
coincidence, given the underlying
Fibonacci forces at work – for that
matter note how the Dec-09 break
point corresponds with 76.4%).

Along the way resistance from the

1.4559/76 prior lows area could
have some effect.

In case of s/term pullback keep in

mind the support point around the
1.4229 24-Mar low.

Philip Allwright
Mark Sturdy
Seven Days Ahead

SEVEN DAYS AHEAD Professional trading guides and recommendations for the World's markets

Authorised and Regulated by the FSA 124 REGENTS PARK ROADLONDON NW18XL TEL +44 (0) 7849 933573
E-MAIL MSTURDY@SEVENDAYSAHEAD.COM WWW.SEVENDAYSAHEAD.COM
This information memorandum has been prepared solely for informational purposes for customers of Seven Days Ahead and is based on publicly available information from sources
believed to be reliable. It is not an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation is made as to the completeness or
accuracy of any statements or forecasts contained herein and no responsibility or liability is accepted for losses arising from transactions undertaken or investments purchased, sold or
held on its recommendation. Consequently, any persons acting on information contained herein do so entirely at their own risk. Although the opinions contained herein were
considered valid at the time of release, financial markets are subject to rapid and unexpected movements. Seven Days Ahead, its associated companies, their directors, employees,
other customers or connected persons may from time to time undertake transactions or deal in investments mentioned in this information memorandum or have a material interest,
relationship or arrangement in relation to them.