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Swiss Franc Daily Key Reversal

Swiss Franc Daily Key Reversal

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Franc Daily Key Reversal

Prepared by Jamie Saettele, CMT

A key reversal did unfold in the USDCHF today (the last 2 daily key reversals were 12/15 and 10/6), which suggests that the USDCHF is vulnerable. A key reversal is a warning but does offer high reward/risk opportunities. Risk on any shorts should be kept to Monday’s high (9595). Resistance for Tuesday is 9515/40. Former pivots at 9470, 9450, and 9410 are potential supports. Additional technical research can be found at DailyFX.com.

Bottom Line – flat

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