240 Minute Bars
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 10245.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to jsaettele@dailyfx.com.
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