USD/CHF Double Top Confirmed

Yes the double top on USD/CHF is confirmed – see chart below – and yes the target is set around 0.9250. You may have also spotted that our BearBull index on USD/CHF shows now [5,4], a very thin margin for the bulls. However, on the long run, we remain USD/CHF positive. We are waiting for the price to visit the double top target and then, we will evaluate if the time has come to turn bullish again. Our first usual signal will be a return of the green bars on our Daily Snapshot, which shows dark green bars today, stating that the correction is still underway.

Last but not least, you never catch a bottom – so we don’t know exactly where and when this correction will end-up – but we are simply more bullish then bearish on this currency pair on the long run, with 0.92 region seen for now as an interesting level to open our eyes again. This could change of course …

Sample of today’s newsletter, European opening click here Snapshot 20.01.2012.

Have a successful trading day.
Best regards