Monday, August 4, 2008

August 4, 2008; Swissy Falling

Attached above is the 4hr chart of the USD/CHF. You can see the bearish divergences on the stochastics and MACD with the yellow lines. The price makes new highs while the stochastics and MACD does makes lower highs. Also, notice the big bearish engulfing candlstick forming (circled on the chart). This pair is headed lower, at least to the 1.0355 where my initial target is.

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