Written by Ross Mullins
Thursday, August 19th, 2010
Buy posted to the TAP at 9:08am ET, buy USDCHF at 1.0295. Buy zone posted to TAP comments from 1.0300 down to 1.0285 based on the bottom of the weekly trend channel that we have been studying in the room for the past few weeks. Today it has tested the bottom once again. Along with that our fibonacci studies have shown a 1.236 fib extension at 1.0285 at the same level at the channel line. Our expectation is for a bounce back up and for the currency to stay within the trend channel.
