DavidBelleFX

A change in structure on USDCHF monthly?

FX:USDCHF   U.S. Dollar/Swiss Franc
Looking at the USDCHF             monthly shows that we have had a break of the long term downtrend line from 2002             back in May of last year. What is more interesting here is the change in structure. It could be said that the market has been in a range since November '11, when we had the first support felt at 0.8756 and a touch of resistance at 0.9951. Currently, we are in a descending triangle on the 4H with a break below opening up, longer term, the 0.9000 level. What is key here for a break of this structure is that a higher low is made on the Monthly to confirm a possible uptrend.

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