Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-Since May, USD/CHF has bounced between a 5 year trendline (near .9590 on Friday) and parallel that relates to the November 2015-January 2016 trendline. A break of one of these barriers will indicate that the range underway since May is complete and that the next directional move is underway. A view of intraday price action reveals a head and shoulders top since 9/8. The measured objective from the pattern is .9478, which is pips from the October 2015 low at .9475.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk