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Swiss Pivot at 9263

Swiss Pivot at 9263

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, Swiss Pivot at 9263

Prepared by Jamie Saettele, CMT

“Expectations are for the USDCHF decline from the 2/6 high to complete 5 waves down.” The USDCHF fell to a new low in order to satisfy 5 waves from the 2/6 high on Friday. It is also possible that 5 waves are complete from the January high. The move off of the low is so far corrective and even a pop above 9200 would still fall within the confines of a correction. As such, 9263 is the pivot (below is bearish and above is bullish).

Bottom Line – flat

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