USD/CHF (Momentum Review for 05/22/2013):
RSI (14): The RSI (14) is showing signs of increasing bullish momentum (1 hour chart), maintaining the 40-80 bullish range. A ‘positive RSI reversal’ was confirmed on the hourly chart, which targets 0.9845 (an hourly close above here would likely lead to additional momentum buying). To conclude, the RSI (14) set up on the daily chart also remains strongly bullish.MA’s of RSI (14): The 9MA of RSI has crossed above the 45MA of RSI (1 hour chart) which is a bullish development on the short term time frame. The set up on the daily chart is also strongly bullish.
FX Pattern Review for (05/22/2013):
USD/CHF: 1 hour chart has confirmed an ascending triangle continuation pattern with the 60min close above 0.9750. Measured move pattern target is 0.9980.**Shorter term patterns should always be taken in account with the longer term time frame in mind
Shorter Term Time Frames Pattern Table
Shorter term patterns (Charts)
USD/CHF (1 hour chart): Ascending Triangle - (Bullish)>1 hour close above 0.9750 has confirmed pattern and targets 0.9980
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