Trade
Follow Us

Resources

Swiss Franc 10250 is Level to Watch

By Jamie Saettele, CMT, Sr. Technical Strategist
03 September 2010 14:37 GMT

Weekly Bars

eliottWaves_usd-cad_1_body_100903_090227_CQG_IC_Screen.png, Swiss Franc 10250 is Level to Watch

Prepared by Jamie Saettele

“Longer term (months out), I am USD bullish but there is no evidence to suggest that the USDCHF will find a bottom and reverse anytime soon. At this point, it appears that 10130 will fail and lead to a drop below the 2009 low of 9916. That could complete a 2 year correction from 12300.” Channel resistance is at 10250.

DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.

03 September 2010 14:37 GMT