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

USDCHF remains in downtrend from 0.9455

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 16, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    USDCHF remains in downtrend from 0.9455, the rise from 0.9229 is likely consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. Key resistance is at 0.9340, only break above this level will signal completion of the downtrend, then another rise towards 0.9600 could be seen.

    [​IMG]

    Provided by ForexCycle.com
     
Loading...

Share This Page