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Forex Trading Technical Analysis (2010/08/18) USD/CHF Inverted Flag within Downtrend Channel

USD/CHF (a 4-hour chart of which is shown) as of Wednesday (8/18/2010) has formed an inverted flag pattern within the context of a parallel downtrend channel extending back to early July. Within the context of this downtrend channel, after price broke down below an intra-channel uptrend support line that represented the most recent countertrend retracement, the pair has now formed a rough inverted flag pattern. For more USD/CHF forex technical analysis, please click here.

James Chen, CTA, CMT