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USD/CHF Consolidates around a Long Term Parallel

USD/CHF Consolidates around a Long Term Parallel

2016-11-29 20:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Consolidates around a Long Term Parallel

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The election reaction resulted in a test of the trendline and sharp reversal. After all that, Swissie is unchanged on the month (opened November at .9883). What we’re left with is a rectangle consolidation since April. A close above .9944 would trigger a bullish breakout.” Bullish breakout it is. The objective from the breakout is 1.0350. Watch the year open for support near parity.

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