USDCHF, broke out of multi-term down channel

U.S. Dollar/Swiss FrancFXCM

Description

⋅ Jan 4, 2015 10:04 AM

Price seems like break out of the horizontal resistance, i'd like to find out whether the green channel support is able to hold (blue region)

P.S. The fact that price broke out of the multi-term trend channel is a big deal

Comments

IvanLabrie

⋅ Jan 20, 2015 1:17 PM

Big deal indeed, SNB got nervous and got it back on track (channel wise) :)

jangseohee

⋅ Jan 20, 2015 1:21 PM

the rest is history, price got SUCKed back into red channel
SNB has this channel in their offices :-)

moneymaking

⋅ Jan 4, 2015 5:44 PM

Hey jangseohee, Great Analysis. Thanks for sharing.

Good luck trading!!

jangseohee

⋅ Jan 5, 2015 12:49 AM

Yo Yo Moneymaking, its my pleasure to share my "boring" analysis with only channels and MAs.
Not the fanciful type.
Good luck to you too!

IvanLabrie

⋅ Jan 4, 2015 1:11 PM

Indeed, USD strength vs EUR/CHF (peg makes them react the same way) is definitely clear. Should be an interesting pair this year.