Thursday, March 22, 2007

EUR/CHF - 4 HRS CHART
FORMING ASCENDING TRIANGLE...



This pair take the big fall from 1.6289 to the low of 1.5930. Eversince making the low of 1.5930 this pair finding stiff resistence at 1.6200. After making the low 1.5930 this pair is forming the Ascending Triangle pattern on 4 hrs chart. Well the key point to this pair is trading a little bit above 1.6151 which is the 61.8% fibo resistence of the fall from 1.6289-1.5930. On 4 hrs RSI you can see the Divergence at the overbought region, here i suspect it might struggle to overcome the 1.6200 level. Well once the 1.6200 is taken out it'll boost to kiss the level of 1.6289.