Daily Forex Update: USD/CHF
AutoChartist | Feb 11, 2014 05:14AM ET
USD/CHF continues to decline after recently breaking the Triangle chart pattern that was earlier identified by Autochartist on the daily charts – as you can see from the following trade opportunity alert for this currency pair. The pair is expected to fall to the target level 0.8932 (point A) in the next 2 days. Autochartist set the stop-level for this forecast at 0.9064 (point B). This Triangle breakout continues the medium-term downtrend visible on the daily USD/CHF charts. The downward-sloping daily moving average and the Volatility Analysis shown on the second chart below – both confirm this forecast.
As you can see from the following Volatility Analysis chart for USD/CHF, the lower boundary of the daily Expected Price Range calculated for this pair (0.8924) stands within 8 pips of the target level given above (0.8932) – which adds to the portability the pair will continue to fall toward 0.8932 tomorrow.
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