USDCHF - A MULTI-YEAR TREND REVERSAL?
USDCHF appears to have broken through a very important trendline going back as far as 2006. This week's gathering strength in the dollar pushed this pair over the descending trendline on the monthly timeframe. The closest resistance level is at the January high of 1.0240. There's a good chance the price will bounce off this level and consolidate for a bit but if we see a rate increase by the Fed in December (a fairly likely scenario) then we could see a strong push through the blue zone. And if that happens then we could be going all the way up to the 1.1500 area before we encounter any significant resistance. A strengthening dollar combined with a weakening franc should provide us with plenty of good opportunities in 2016.
clearedgefx.com
clearedgefx.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.