Swiss Franc In Limbo
240 Minute Bars
Prepared by Jamie Saettele, CMT
A key reversal unfolded yesterday in the USDCHF (the last 2 daily key reversals were 12/15 and 10/6), which suggests that the USDCHF is vulnerable. A key reversal is just a warning but does offer high reward/risk opportunities. Risk on any shorts should be kept to Monday’s high (9595). Resistance for Wednesday remains 9515/40. From an Elliott wave perspective, price could make one more high to complete a diagonal before reversing.
Bottom Line – flat
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