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USD/CHF Outside Day; Trading in No Man’s Land

USD/CHF Outside Day; Trading in No Man’s Land

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Outside Day; Trading in No Man’s Land

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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.

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.

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