Wednesday, April 15, 2009

USD CHF channel

usd chf daily 15.04.09

USD CHF Daily charts

A parallel channel similar to that on the Eur-Usd charts (though opposite in direction, which makes sense as base currency is different) is visible on the USD CHF daily charts too. This channel has been guiding movements since late March, is now firmly established with 2 tests of resistance and multiple of support.

Again, we seek to long/short at support/resistance respectively, and if a break happens on either side, take a trade in the direction the trend.