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USDCHF has formed a cycle top at 1.1245

Discussion in 'Technical Analysis' started by ForexCycle.com, May 6, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF has formed a cycle top at 1.1245 level on 4-hour chart. Sideways movement in a range between 1.1000 and 1.1245 would more likely be seen in a couple of days. However, the sideways movement is treated as consolidation of uptrend from 1.0434, as long as the rising trend line support holds, one more rise to 1.3400 area is still possible, and a break above 1.1245 could signal resumption of uptrend.

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