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Swiss Franc Nears Former Trendline

Swiss Franc Nears Former Trendline

2011-03-16 14:32:00
Jsaettele,
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eliottWaves_usd-chf_2_body_usdchf.png, Swiss Franc Nears Former Trendline

Prepared by Jamie Saettele

The USDCHF has traded to a record low and as mentioned in recent days – “a downside break would shift focus to round figures such as 9100 and 9000 (but also complete 5 waves down from 9775).” This break lower may be from a triangle pattern, which are terminal patterns. Still, only a move above 9369 would begin to suggest that a low has formed. Watch round figures for potential support (9100, 9000, etc.).

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