Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

USD/CHF Inside Day Raises Possibility that Friday Was a Major Low

By , Sr. Technical Strategist
03 March 2014 21:48 GMT

Daily

eliottWaves_usd-chf_body_Picture_4.png, USD/CHF Inside Day Raises Possibility that Friday Was a Major Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDCHF dropped to its lowest level since October 2011 on Friday. There is no chart support until the October 2011 low at .8567. However, the USDCHF low is NOT accompanied by a new high in EURUSD. This divergence has occurred at turning points in recent years.

-Monday’s inside day raises the possibility that Friday was exhaustive.

LEVELS: .8567 .8700 .8800 | .8852 .8887 .8929

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

provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from

03 March 2014 21:48 GMT