I don't trade any CHF for well known reasons. But USDCHF
has been a very good indication of overall USD strength meter for the past couple years. USDCHF
has traded into a cluster of resistances, despite the fact that we just broken above a seemingly neckline of a double bottom
pattern. There is a potential three drives
completion right around where we trade right now. I am very suspicious about this level and look for a shallow correction downward before we can charge higher in a much more impulsive manner.