Dec 1, 2010

FX Path

FX Path

USD/CHF - Touch of Resistance in Bullish Trend

Posted: 01 Dec 2010 01:03 PM PST

Price action on USD/CHF (a daily chart of which is shown) as of Wednesday (12/01/2010) has bumped up against key resistance in the 1.0060 price region. At the same time, price has also reached the upper border of a new parallel uptrend channel that extends back to the mid-October 0.9463 all-time low. For more technical analysis on this currency pair, please click here for Wednesday’s (12/01/2010) 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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