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USD/CHF Stalking Additional Reversal Signals
- Daily and 4H: We had our first set of reversal signals last week. (Refer to Daily Technical Update 11.12.2009 USD/CHF ).
- Any possible reversal has been stalled, but has not invalidated the bullish case.
- Price action instead formed may be developing a fractal double bottom.
- In the daily, we can see that the recent retest of 1.0050 creates a second bottom in the medium-term.
- In the 4H timeframe, we see that this second bottom is now also showing two shor-term bottoms at the 1.0050 area.
- If the market can break above 1.0200, we may have a short-term bullish move towards the 1.0350 level.
Fan Yang
Currency Analyst,
Commodity Trading Advisor