USDCHF Analysis ~ forex market moving news
USDCHF is currently close to its historical low level of 0.96360 recorded in March 2008. The monthly and weekly candles however show that the pair is still descending. This could be attributable to the general weakness of USD against most major currencies. I must admit however, the pair is very tempting for long. The best option if you are trading this currency long-term is to wait for the trend reverse and follow it. A weekly candle close above 0.98963, which is a very strong support will confirm the reversal. This is an area I will be watching
For a short term trade the sell signal was given by M15 on 0.97161. The best option for short term trading is to wait for another signal sell signal on M15.
The points are clearly indicated in the charts below
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