The Swiss Franc.

Good evening Dynamic Traders,

Tonights chart of the CHF, is currently standing at the former support level again after bouncing up as mentioned on the 20th October.

Once again price is testing the strong figure and former support level and nothing has changed since last reporting apart from the pips up as mentioned.

The trend is still down as can be seen with the V.I. and so may have just been having a breather rather than a change of direction so as to try and break this support.There is still a good fibonacci reversal area just south though and this could be validated with the convergence going on both longer and shorter term with the MACD indicator.

This is a cautious time with the figure being of such strong psychological support and this is being confirmed with the DB pattern of late and possible 123 on the lower timeframe chart.

Remember patience is a virtue and so await direction to use ESLT.

As always pleae ensure to do your own analysis before trading.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.