Updated the:
08/21/2012
USD/CHF : A descending triangle is shaping

Sentiment :
"sentiment
0.98
"sentiment
0.98
"sentiment

Since the begining of August, the pair USD/CHF is moving without a trend between the support at 0.97 and the resistance at 0.98. Last highs allow us to make appear a descending triangle in h4 with a support at 0.97.

We advise to traders to trade short positions, waiting for the breakout of 0.97 that will give a new sell signal. The next support at 0.96 should then be reached. In h1, this scenario is reinforced by the recent breakout of a bullish slant (black line).

We stay bearish as far as 0.98 is resistance. In case of return above this level, a buy signal will be given. A test of 0.9875 should be then expected.

Analysis published by Bruno, the 08/21/2012 at 8h50 GMT+2

Complete sheet of the pair USD/CHF - Previous USD/CHF Analysis
Chart of the pair USD/CHF - Timeframe 4H
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Chart of the pair USD/CHF - Timeframe 1H
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USD/CHF Live Chart - Timeframe : 4h
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