{"id":14659,"date":"2010-10-29T08:02:31","date_gmt":"2010-10-29T12:02:31","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14659"},"modified":"2010-10-29T08:02:31","modified_gmt":"2010-10-29T12:02:31","slug":"usdchf-reversal-signal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/29\/usdchf-reversal-signal\/","title":{"rendered":"USD\/CHF Reversal Signal"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; Heading into the monthly close, the USD\/CHF is showing a bullish reversal signal in the long term <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/09\/22\/usdchf-%e2%80%93-downtrend-looks-to-continue\/\">downtrend<\/a>.<\/p>\n<p>Following last month\u2019s breach below the bearish pennant pattern on the monthly chart, the dollar has <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/19\/forex-video-analysis-%e2%80%93-usdchf-technical-analysis\/\">rallied<\/a> creating a bullish hammer. This candlestick pattern is identified by a  long lower shadow with a small real body at the top. The candlestick is  found at the bottom of a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/09\/15\/forex-video-analysis-usdchf-falls-below-1-0000\/\">downtrend<\/a> and the appearance of the hammer signals a potential bullish reversal  in the downtrend trend. The candlestick pattern is similar to its  bearish counterpart the hanging man.<\/p>\n<p>Traders will need to wait for a close of the month to confirm the reversal signal.<\/p>\n<p>Initial resistance is found at this week\u2019s high at 0.9930. A  potential target for any further appreciation in the pair may be found  at the lower boundary of the pennant pattern at 1.0080. Traders should  be aware that just as a support level turns into a resistance level;  previously broken trend lines can serve as new resistance levels.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/USDCHF-Monthly1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/USDCHF-Monthly1.JPG\" alt=\"\" width=\"590\" height=\"608\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                            may     not    be                 suitable         for         all                          investors.                  There          is    a                                                  possibility                  that                         you               could                      sustain a       loss              of     all            of            your                                            investment      and                                    therefore     you                             should        not                      invest                      money        that           you                              cannot                  afford  to                          lose.     You                            should          be               aware           of                  all             the           risks                                   associated              with                  Foreign                        Exchange                             trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Russell Glaser &#8211; Heading into the monthly close, the USD\/CHF is showing a bullish reversal signal in the long term downtrend. Following last month\u2019s breach below the bearish pennant pattern on the monthly chart, the dollar has rallied creating a bullish hammer. This candlestick pattern is identified by a long lower shadow with a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/10\/29\/usdchf-reversal-signal\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;USD\/CHF Reversal Signal&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14659","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=14659"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14659\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}