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Swiss Franc Trendline Failing

Swiss Franc Trendline Failing

2011-12-30 15:50:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Franc Trendline Failing

Prepared by Jamie Saettele, CMT

The USDCHF carved out a bearish key reversal on 12/15 and the subsequent decline created overlap with the 11/25 high, warning that the uptrend is complete. A drop below the 12/28 low of 9320 likely triggers losses towards 9175 and 9070 (previous supports).

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