USD/CHF – All Eyes on the 5 Year Trendline Near .9590
Chart Prepared by Jamie Saettele, CMT
-Since May, USD/CHF has bounced between a 5 year trendline (near .9590 on Friday) and parallel that relates to the November 2015-January 2016 trendline. A break of one of these barriers will indicate that the range underway since May is complete and that the next directional move is underway. A view of intraday price action reveals a head and shoulders top since 9/8. The measured objective from the pattern is .9478, which is pips from the October 2015 low at .9475.