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Dollar-Swiss Franc Probably a Fakeout

Dollar-Swiss Franc Probably a Fakeout

2012-02-14 00:07:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, Dollar-Swiss Franc Probably a Fakeout

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

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