| USD/CHF - Turns Up After Respecting 1.0500 Support Posted: 12 Jul 2010 09:15 AM PDT  Price action on USD/CHF, a 4-hour chart of which is shown, has turned up as of Monday (7/12/2010) after failing to breakdown significantly below key support in the 1.0500 price region late last week. This bullish turn has broken out above a steep downtrend resistance line extending from a mid-June high, and comes on the heels of substantial bearishness that has prevailed since early June. For more technical analysis on this currency pair, please click here for Monday’s (7/12/2010) 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.
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