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USDCHF Breaks Base Channel

USDCHF Breaks Base Channel

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Breaks Base Channel

Prepared by Jamie Saettele, CMT

The break of the upward sloping channel indicates that the advance from 8931 is probably impulsive (rather than corrective) and that price is headed much higher in the coming weeks and months. Keep risk at 9135 and look for support on Thursday at 9250/75. Focus is on early January support at 9400 as well as the January high at 9595.

Bottom Line (next 5 days) - higher

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