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USDCHF stays in a rising price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 5, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF stays in a rising price channel on 4-hour chart, and remains in uptrend from 0.8922, the fall from 0.9339 could be treated as consolidation of uptrend. As long as the lower border of the channel support holds, we’d expect uptrend to resume, and another rise to 0.9400 is still possible. However, a clear break below the channel support will indicate that a cycle top had been formed at 0.9339 level, and the rise from 0.8922 had completed, then deeper decline towards 0.8922 previous low could be seen.

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