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May 21, 2012 04:09AM GMT
     
 
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USD/CHF: downside breakout

By   |  Forex  |  Feb 09, 2012 02:21PM GMT  |  Add a Comment
 
The swissie has hit the lows of its consolidation range and broken slightly down, however, it has since returned back into the range and is bullishly climbing. If it continues it will probably reach the highs at 0.9245. My preference is for further downside given the bearish indications form Chaiken Oscillator which is good at giving clues for the eventual breakout from ranges. In this scenario the pair could fall to the price objective for the pair (the width of the consolidation pattern) yielding a downside target of 0.8985.

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