Filed Under:
Forex pairs in this Article » USD/CHF
Daily

eliottWaves_usd-chf_body_Picture_4.png, USD/CHF Dips to a New Low and ReboundsChart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-On 12/27, USDCHF spiked to its lowest level since November 2011. The advance from the 12/27 low is impulsive (5 waves). As such, it’s possible that an important low is in place.

-The rejection at former lows (June and August lows) has given way to a larger dip. The market needs to overcome .8940 (daily closing preferably) in order to make the case for higher levels. .8831/59 is the final level of possible support before the December low. If .8800 gives way, then focus would shift to the October 2011 low at .8567.

LEVELS: .8798 .8839 .8866 | .8911 .8939 .8986

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

comments powered by Disqus
Trading Center