USD/CHF (daily chart) as of Tuesday (9/27/2011) has pulled back yet again in what is turning out to resemble a well-formed bullish trend characterized by strong breakouts to the upside interspersed with bearish pullbacks, or retracements. If price action continues this pattern of higher highs and higher lows, the uptrend that was started early in September on the strong breakout above the previous long-term 15-month downtrend, should gain further strength. After that breakout, price has gone on to breakout above progressively higher resistance levels, including the 0.8275, 0.8550, and 0.8900 price regions. The next ... (full story)