| USD/CHF - Rises to Hit Long-Term Resistance Trendline Posted: 07 Apr 2010 11:35 AM PDT  Price action on USD/CHF, a daily chart of which is shown, has risen within the last week to hit a long-term downtrend resistance line extending from the November 2008 high. This occurs after a medium-term uptrend line extending from the November 2009 low below parity was pierced but respected in the beginning of April. In the event of a breakout above the noted long-term downtrend line, further bullishness should be expected. For more technical analysis on this currency pair, please click here for Wednesday’s (4/07/2010) Chart of the Day.
- James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here. 
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