By Anton Eljwizat – The volatile of the USD/CHF pair continues to be affected by the volatile forex market. The last week has seen a lot of bullish strength in the USD/CHF pair. However, as I demonstrated below, it seems that the pair’s bullish run may have run out of steam, and a bearish correction could be underway soon. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.
• Below is the 4 hour chart of the USD/CHF currency pair.
• The technical indicators used are the Slow Stochastic, Williams Percent Ranges, and Relative Strength Index (RSI).
• Point 1: The Slow Stochastic indicates an impending bearish cross, signaling that the next move may be in a downward direction.
• Point 2: The Relative Strength Index (RSI) signals that the price of this pair currently floats in the over-bought territory, indicating downward pressure.
• Point 3: The Williams Percent Range has peaked near at the 0 marker, which means that there may actually be a strong level of downward pressure.
USD/CHF 4-Hour Chart
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
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