Swiss Franc Significant Short Term Pattern
60 Minute Bars
Prepared by Jamie Saettele, CMT
The USDCHF reversed just shy of its 100% extension near 8950. A close look at the rally from the low however reveals a 5 wave structure, which may compose the first leg of a larger bull move. Over the next several weeks, the USDCHF will probably work lower into the Fibonacci zone of 8772-8688 before finding a secondary low.
Support/Resistance Index (M,W,D) – 0, 2, 0
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