USDCHF Classic Technical Report 08.09.2012
Prices are stalling above support at 0.9650 having completed a Head and Shoulders topping chart pattern. A break downward aims to challenge a rising trend line set from late May (now at 0.9555). The H&S top structure implies a measured downside target at 0.9499. Alternatively, a push back above 0.9735 targets the 0.9872-98 area.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.