Dollar-Swiss Franc Probably a Fakeout
60 Minute Bars
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. The ensuing rally is a 3 wave advance and leaves the USDCHF vulnerable. 9263 remains the pivot (below is bearish and above is bullish).
Bottom Line – flat
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.