NPriceFX
Long

Inverted Head and Shoulders on USD/CHF

FX:USDCHF   U.S. Dollar / Swiss Franc
87 0 0
USD/CHF             seems to be putting in a meaningful bottom, culminating in an inverted head and shoulders pattern on the 240 minute chart. A break and hold above the neckline as shown should open up the pair for further gains towards the 0.93 level.

On the longer-term timeframes (weekly/monthly) the USD/CHF             pair is currently sitting on long term support which, if it holds, could propel the pair much higher.

The US dollar             is at an interesting juncture right now from a fundamental perspective, and political developments over the course of the coming weeks will drive the market direction.

Should the market trade below the right shoulder at the 0.9060 level, we would interpret this as calling into question the bullish market tone and would advocate standing aside until the market's intentions become clearer.
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