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USD/CHF Screams Towards 7 Month Trendline

USD/CHF Screams Towards 7 Month Trendline

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-The most recent remarks were that “contracting trade since March may compose a triangle, in which case USD/CHF will trade down to .9215-.9400 before finding support. The triangle line is near .9380 over the next few days.” USD/CHF ended up finding support above the ‘ideal spot of .9380 and is again approaching triangle resistance. A break above would signal that a major move higher is underway.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.