USD/CHF closed lower overnight and trading above the 10-day moving average crossing signalling that a short-term low has likely been posted. Stochastics and the RSI are oversold and are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing are needed to confirm that a low has been posted. If its extends this month's decline, the 38% retracement level of the 2008- 2009-decline crossing is the next downside target.
Forex Trader Library Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.