Daily 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.” I wrote last week that “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…” This was on example today when the USDCHF traded above its 2/1 high and the EURUSD failed to trade below its 2/1 low.
Bottom Line – flat
