USD/CHF 4H Chart: Double Bottom

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Besides trading inside the boundaries of the channel down pattern that was discussed on Tuesday morning, the USD/CHF has also created a double bottom at the same time. It proclaims that there is a possibility that the US Dollar will give up rising earlier than initially anticipated, namely around the top level between two valleys at 0.9360. In case the pair manages to bounce back, as suggested by the daily technical studies, it will embark on the road to form a third bottom in the long-term. In the short-term, however, indicators still suggest the pair will manage to gain some value. Meanwhile, the majority (73%) of SWFX traders assume the Buck should outperform the Swiss Franc.
© Dukascopy Bank SA
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