Even thought back in January USD/CHF crashed due the SNB Black Swan even, caused by SNB decision to abandon the 1.2 peg, we're back near parity level, and this is all due to the US dollar exceptional rally. The broad based dollar strength was playing a key role in this impressive recovery and we should see this pair above current year high around 1.0200 level as soon as the dollar bullish trend resume. Right now we're trading in between two big round numbers, with support level at 0.9500 and …
Daytrader21's Blog
Aussie Flying high? For now continues to head towards parity
Aussie remains within the long term range: 0.9380 as the lower border and 1.1080 the upper border. Within this trading range we are making a big triangle pattern which is apparently a bullish formation.(see fig.1)Based on Elliot Wave theory this triangle should be composed of 5 legs. We are currently developing an extended leg D which suggest that in order to complete the triangle formation we need to have a final leg E to the downside and to test the support level around 0.9800 round number.The…