Swiss Franc May Threaten November Pivot at 9065
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
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