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USDCHF Attempts to Carve a Bottom

USDCHF Attempts to Carve a Bottom

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Attempts to Carve a Bottom

Prepared by Jamie Saettele, CMT

As is the case with the EURUSD, it is possible that the rally from 8930 and decline from 9334 composes waves 1 and 2 of the next larger bull leg but it is best to wait until next week before attempting longs (for the same reasons mentioned in the EURUSD commentary). 9135 is the pivot.

Bottom Line (next 5 days) – sideways/higher?

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