CapMoore

Long Term Trendline Currently Being Tested (Possible H&S)

FX:USDCHF   U.S. Dollar/Swiss Franc
77 0 1
Just to add to the importance of current level in UsdChf             , is the sloping trendline ,
which is tested now. Could be the neckline of an somewhat ugly H&S . They rarely
look perfect anyway. Target of abcd stands at 1,1590 and 61,8 at 1,0480. Also note that
1,0140 is the 50% fib of the CD leg, which add resistance here. UsdChf             is oftentimes a good
approximate and can give extra clues to were EurUsd             is going. Not mentioned in the chart
text but equally important is the Bullish Kumo Breakout that occured previous month. A very
rare occasion on this high timeframe.
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