USD/CHF - May 20, 2011: Can Double Top Pattern Formed Today?
Friday, 20 May 2011 04:35
Yesterday: Open 0.8811 High 0.8882 Low 0.8767 Close 0.8810
Since trading began yesterday's Asian session, Frank had a bearish movement to pass under the diagonal trend line to go to the lowest daily at 0.8767. Further movement toward Frank rebounded to its highest level daily at 0.8882 and passed a few pips above the resistance level at 0.8877.
Overall daily high low range Frank yesterday about 100 pips.
Currently, the visible movement of Frank tends bullish with line break level at 0.8787.
The focus of today's economy for the USD/CHF is the CHF Danthine Gov. Board Member Speaks at 8:30 pm.
When you have the opportunity to increase the resistance level is 0.8877.
We recommend that if the decline continues, opening opportunities to the support level at 0.8764 and 0.8708.
Prices shown on the graph H1 line MA05 and MA10 conditions tend bullish.
While the Stochastic indicator signifies bullish conditions.