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Swiss Franc Focus Remains 9784

Swiss Franc Focus Remains 9784

2011-02-16 15:52:00
Jsaettele,
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240 Minute Bars

eliottWaves_usd-chf_2_body_usdchf.png, Swiss Franc Focus Remains 9784

Prepared by Jamie Saettele

The USDCHF remains in an exceptionally bullish position with a series of 1st and 2nd waves appearing to unfold from the February low. Alternate counts are bullish but to a lesser extent, allowing for a drop below 9550 before the next leg up takes place. In the event of a drop below 9550, 9500 (61.8% retracement) becomes support.

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