September 6, 2011

USDCHF Trend line breakout

  • USDCHF has broken its weekly down trend line and it has also violated 20 week moving average.
  • If week manage to close above the TL and 20 WMA then this move will sustain. And will target 50 week moving average which is near 0.9020 levels right now.
  • Long weekly shadow at the bottom of the trend gave warning of a likely change in trend. They say everything is priced in and those who created that long shadow anticipated such a news weeks before it happened.

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