| USD/CHF - Bear Market Rally Posted: 21 Oct 2010 10:01 AM PDT  Price action on USD/CHF (a 4-hour chart of which is shown) as of Thursday (10/21/2010) has shown that it is still entrenched in a bullish retracement within the context of a strong downtrend. This retracement hit a high around 0.9755, near the downtrend resistance line, before retreating, and occurs after price hit an all-time low at 0.9463 just last week. For more technical analysis on this currency pair, please click here for Thursday’s (10/21/2010) 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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