appears to have broken through a very important trendline
going back as far as 2006. This week's gathering strength in the dollar pushed this pair over the descending trendline
on the monthly timeframe
. The closest resistance level
is at the January high of 1.0240. There's a good chance the price will bounce off this level and consolidate for a bit but if we see a rate increase by the Fed in December (a fairly likely scenario) then we could see a strong push through the blue zone. And if that happens then we could be going all the way up to the 1.1500 area before we encounter any significant resistance. A strengthening dollar combined with a weakening franc should provide us with plenty of good opportunities in 2016.