g2-rockach
Long

H&S breakout approaching major previous resistance area.

FX:USDCHF   U.S. Dollar/Swiss Franc
38 0 0
On the lower time frame we have had a break of the neckline of a H&S pattern on Friday. Looking from the daily chart we have an area which possibly will provide a support area. We also have a round number 0.90000. This is proberly what helped to create the reistance area. Overall the trend is now upward on daily chart .

Trading is all about stacking up the possibilities and with this in mind I am thinking that this area may hold up. It could go and retest the neckline break and even continue upwards. On the other hand Friday did produce a large bearish candle signalling a lot of selling pressure.
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