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Swiss Franc Head and Shoulders Objective at 8465

Swiss Franc Head and Shoulders Objective at 8465

2011-10-28 15:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily and 60 Minute Bars

eliottWaves_usd-chf_body_Picture_7.png, Swiss Franc Head and Shoulders Objective at 8465

Prepared by Jamie Saettele, CMT

“Bigger picture, the USDCHF rally from the August low has that 5 wave look. While each wave might not be ‘perfect’ in its individual construction, the point is that a countertrend move should be expected.” The countertrend decline is well underway and a head and shoulders objective rests at 8465. Former resistance at 8420 is also of interest.

Trend Strength (M,W,D) – 0, 0, (1)

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