Has swiss cheese got holes in it?

Greetings Dynamic Traders,

Having been a regular visitor to this website, I have been able to advance my trading thanks to the dynamic guru duo Javid and Anne, and more recently contribution from Jagir and Saba. I hope to contribute and help just as I have gained trading knowledge.

The USDCHF has been gaining strength since March of 2008. The weekly chart however, demonstrates 5 or more technical barriers to a continuation. These include the value index, previous support turned resistance, MACD divergence, the figure, and a reliable fib level.

USDCHF Weekly chart

MACD divergence continues on the daily chart together with a trendline resistance and reversal candles. Aggressive traders may favour this as a good potential set up, ESLT would be good to utilise here.

USDCHF Daily chart

The GBP/JPY is showing signs of reversals. On the slightly lower 4 hour timeframe we have a double bottom formation, price bouncing off the figure with a reversal candle. MACD is showing short and longer term divergence. Wait for the confluence of events/further confirmation and use your pick of techniques for a good entry.

GBPJPY 4 hour chart

Enjoy your weekend and don't forget to celebrate your successes.