Swiss Franc at 61.8% Retracement
240 Minute Bars
Prepared by Jamie Saettele
I wrote yesterday that “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.” The USDCHF has plunged through the 61.8% retracement but the bullish count remains, especially with the structure of the decline in 3 waves. I expect a low.
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