USDCHF October 14th Review

USDCHF has traded above and below an upsloping trendline connecting higher lows and higher highs, and has found resistance/support at parallel trendlines thus trading inside a small bullish channel since the beginning of the month. Opening long positions on pullbacks has the potential to work in the near future but failure to move once again above the main trendline is not providing enough confidence in the trends strength. If it happens a break above 1.1450 has as target the higher trendline and the 1.1600 area.

USDCHF has traded above and below an upsloping trendline connecting higher lows and higher highs, and has found resistance/support atparallel trendlines thus trading inside a small bullish channel since the beginning of the month. Opening long positions on pullbacks has the potential to work in the near future but failure to move once again above the main trendline is not providing enoughconfidence in the trends strength. If it happens a break above 1.1450 has as target the higher trendline and the 1.1600 area.

 

[NP][/NP]