Jan 8, 2010

FX Path

FX Path

USD/CHF - In Flag Consolidation

Posted: 08 Jan 2010 08:50 AM PST

USD/CHF Daily ChartPrice action on USD/CHF (a daily chart of which is shown) has, much like its EUR/USD counterpart, formed a solid flag pattern. In the case of USD/CHF, this potentially bullish flag formation occurs after a tentative bottom was established just below parity. The top of this flag conforms approximately to a downtrend resistance line extending from the March 2009 high. For more technical analysis on this currency pair, please click here for Friday’s (1/08/2010) Chart of the Day.

- James Chen, CTA, CMT

* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
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