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USDCHF is forming a cycle bottom at 1.0923

Discussion in 'Technical Analysis' started by ForexCycle.com, May 10, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF is forming a cycle bottom at 1.0923 level on 4-hour chart. Sideways movement in a range between 1.0923 and 1.1245 is expected in a couple of days. As long as the trend line support holds, the price action from 1.1245 is treated as consolidation of uptrend from 1.0434, and another rise to 1.1400 is still possible after consolidation, only a clear break below the trend line support could indicate that the rise from 1.0434 has completed.

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