Swiss Franc Reversal is Impulsive-Pattern is Clear
60 Minute Bars
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
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