240 Minute Bars
Prepared by Jamie Saettele, CMT
“The near term USDCHF pattern is the inverse as the EURUSD. That is, the rally from the low is in 3 waves to this point which is corrective and leaves price vulnerable to additional losses towards the 11/30 low at 9065.” Only a move above 9250 would suggest that a larger rally is underway towards 9400. One may wish to watch the EURUSD and USDCHF closely as turns tend to occur when a price extreme is not confirmed by the other pair (for example, at the January USD top, the EURUSD was at a new low and the USDCHF was not at a new high).
Bottom Line – flat
