By Greg Holden – The USD/CHF appears to be anticipating a bullish correction, and a number of technical indicators support this notion.
– Below is the USD/CHF daily chart provided by ForexYard. The indicators used are the Stochastic (slow), the Relative Strength Index (RSI), and the MACD/OsMA.
– Point 1: The Stochastic (slow) is giving off multiple bullish crosses, indicating that the next move could be in an upward direction.
– Point 2: The RSI is showing the price floating deep within the over-sold territory, but also seems to signal that the indicator is turning upward, highlighting a growing level of upward pressure.
– Point 3: The MACD/OsMA is showing the lines in a descending pattern, but a bullish cross is impending. Once the cross takes place an upward correction may occur.
– Traders can try to anticipate when this bullish correction will occur and jump in for some quick, short-term profits.
USD/CHF – Daily Chart
Forex Market Analysis provided by Forex Yard.
© 2006 by FxYard Ltd
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