Oct 27, 2010

FX Path

FX Path

USD/CHF - Bullish Break Reaches Higher

Posted: 27 Oct 2010 09:55 AM PDT

Price action on USD/CHF (a 4-hour chart of which is shown) as of Wednesday (10/27/2010) has broken out above a key downtrend resistance line and established a new one-month high in the process. This trendline break significantly disrupts the steep downtrend that has been in place since the early June high. For more technical analysis on this currency pair, please click here for Wednesday’s (10/27/2010) 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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