1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDCHF found support at price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 21, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF has found support at the lower border of the rising price channel on 4-hour chart. Sideways movement between 1.0387 and 1.0507 is expected later today. As long as 1.0387 support holds, we’d expect uptrend to continue and another rise towards 1.0550 area is still possible. However, below 1.0387 will indicate that a short term cycle top has been formed at 1.0507, and the uptrend from 0.9959 has completed, then deeper decline could be seen to 1.0300 zone.


    Daily Forex Signals

Share This Page