We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • #Coronavirus update on 2 U.S. companies just crossed the wires: United Airlines (-0.62% afterhours): - Withdraws 2020 forecast with 100% decline in near-term demand to China Mastercard (-2.94% afterhours): - Sees lower revenue growth in the first quarter
  • RT @KyleR_IG: * MASTERCARD SEES LOWER REVENUE GROWTH ON CORONAVIRUS IMPACT Corporate warnings coming in thick and fast today.
  • The iShares #Malaysia ETF closed at its lowest since Aug 2004 and the Malaysian #Ringgit weakened to August 2019 lows in the aftermath of Prime Minister Mahathir Mohamad resigning yesterday, adding further uncertainty amid a deteriorating outlook due to the #Coronavirius $USDMYR https://t.co/uFfxtlMDAo
  • Recession risk is back on the rise and largely attributable to expected economic impact from the #coronavirus outbreak. Get your market update from @RichDvorakFX here:https://t.co/NhzJHEqwj6 https://t.co/nWjrHlR6Ud
  • RT @russian_market: KUWAIT SUSPEND FLIGHTS TO SOUTH KOREA, THAILAND, ITALY: KUNA
  • Do you analyze different chart time frames before entering a trade? Multiple time frame analysis is a charting technique that professional traders use to reveal what may not have been noticed otherwise. Learn how you can utilize this technique here: https://t.co/mhPZ2IBK0V https://t.co/wbFbGPVgld
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.76% 🇪🇺EUR: 0.05% 🇨🇭CHF: -0.08% 🇬🇧GBP: -0.21% 🇦🇺AUD: -0.33% 🇨🇦CAD: -0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Q6PiOGnZzO
  • Poll: Perhaps a little exploitative of the concern rippling through the market after such a severe single-day drop - compounded as it comes after such extended quiet - by $SPX and other risk assets; but do you think the markets just put in a top (via US indices):
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Gold: 1.09% Silver: 0.87% Oil - US Crude: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HfGEb3JLmW
  • The speculative fireworks today seemed to add more weight to the US 10yr/3mth Treasury yield curve inversion. Reminds me of the sudden charge on August 1st. Search interest in 'recession' surged alongside that event https://t.co/prgRHd3ela
Swiss Franc Reversal is Impulsive-Pattern is Clear

Swiss Franc Reversal is Impulsive-Pattern is Clear

2011-10-12 15:39:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

60 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Franc Reversal is Impulsive-Pattern is Clear

Prepared by Jamie Saettele, CMT

I wrote yesterday that “the USDCHF decline from the high (9315) is in 3 waves at this point. An extended decline into 5 waves would be evidence that a more important top is in place.” Weakness has extended into 5 waves thus expectations are for a move back into 9120 over the next week or so before a larger decline. Support is 8920 and interim resistance comes in at 9050.

Trend Strength (M,W,D) – 0, 1, 0

Latest Video

Monthly Forecast

Weekly Forecast

COT

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.