USD CHF Forms New Lower Top

After making a new Main Top at 1.0986, the USD CHF has weakened and isnow in a position to resume the downtrend on a break through the lastmain bottom at 1.0590.

Intra-Day Analysis

After making a new Main Top at 1.0986, the USD CHF has weakened and is now in a position to resume the downtrend on a break through the last main bottom at 1.0590.

This could help accelerate the downtrend to the late December bottom at 1.0371. 

There is just too much resistance to overcome at 1.0980 – 1.0986 at this time.  The Main Trend will change to up if this area gets penetrated.

For Gann Angle support and resistance email me at jhyerczyk@yahoo.com.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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