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Swiss Franc Continues to Trade Sideways

Swiss Franc Continues to Trade Sideways

2011-02-01 15:06:00
Jsaettele,
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240 Minute Bars

eliottWaves_usd-chf_2_body_usdchf.png, Swiss Franc Continues to Trade Sideways

Prepared by Jamie Saettele

After completing 5 waves up from the low (9300), the USDCHF has weakened but in a corrective manner (to this point). Price has trended sideways for the last 5 days in what is either a pause before an assault on 9300 or a bottoming process. A daily close above 9520 would be enough to suggest that a secondary low is in place.

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