USDCHF Price Action 29/08/14

FX:USDCHF   U.S. Dollar/Swiss Franc
109 1 3
USDCHF             is currently in an uptrend as can be seen in the lower right part of the chart. Previously, this pair was in a downtrend as can be seen in the upper left part. The significant level (resistance) which is 0.9170 level is justified by the arrows in the chart. The arrows show where this level had been important. Significant Round Numbers will always be there regardless of how the price reacted because the market will always react in these levels.

As mentioned, this currency pair is in an uptrend so what we are looking for here is to go long. Currently, the price is near/at the resistance level . Therefore, there is nothing to trade here as of the moment. We can see that recently, the price went to the resistance level and the price respected it (as shown in the chart). What we're looking for here is a breakout above and then a retracement back to this level. If the resistance-turned-support line holds, that's the time we're going to go long. That would take some time but patience is very important in trading. For now, we need to wait what will happen in the market. Again, I'm bullish with this pair.
I'm looking at UC as well. Have 2 bullish price targets based on mirroring the previous W-formation and AB = CD.
BUT..there is also a neative divergence combined with a double top of Fisher (34) in formation.....
So even a break of the resistance doesn't give a lot of confidence it will move significantly higher.

So I'm in a struggle now....

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