FX.co ★ USD/CHF Bullish View , February 03, 2011 (Daily Strategy)

US

USD/CHF

A look on the short-term (four-hour) graph of the United States dollar – Swiss Franc pair shows that the technical image on the pair is very positive, showing an attractive buy opportunity. It appears that the last downward movement has reached its end after being braked by the 0.9330 support level, allowing us to form a buy position with an excellent risk/chance ratio.

The positive deviation on the MACD indicator combined with the bullish bat reversal pattern just formed create a high likelihood that the expected positive movement will in fact materialize. towards the meaningful resistance level around 0.9710 Swiss Francs for one United States dollar.