Swiss Franc Nearing Short Term Pivot at 9050
60 Minute Bars
Prepared by Jamie Saettele, CMT
I wrote yesterday that “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.” Price reversed at 8917 and is nearing the mentioned 9050. Focus is on the 9120/60 zone over the next few days (former 4th wave, 50%-61.8% retracement).
Trend Strength (M,W,D) – 0, 1, 0
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