Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-“Since May, USD/CHF has bounced between a 5 year trendline 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.” USD/CHF broke through .9955 (trendine and May high) but failed a few ticks shy of the year open price and ended the day little changed. The long wick warns of a ‘false break’.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk