Friday, December 7, 2012

USDCHF Head-and-Shoulder in Making USDCHF Head-and-shoulder Trade
On daily charts, looks like base in formation around area 0.9235.

Previously this area was a strong resistance on any spikes and now its a strong support. Price has bounced 3 times from that area. Looks like pair is making base there. 

Also on daily charts, looks like a potential head-and-shoulder in making. Left shoulder & head are complete and price is bouncing to make right shoulder.

I will be watching this pattern closely next week.

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