USD/CHF Outside Day; Trading in No Man’s Land
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “USD/CHF broke through the wedge so the ‘major advance’ may be underway.” The break through former wedge resistance signals a failed bullish pattern. Failed bullish patterns are viewed in a bearish context. Given this long term chart, USD/CHF is in trouble on a break below .9440.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.