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USDCHF Dip Under 9100 Was a Trap

USDCHF Dip Under 9100 Was a Trap

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Dip Under 9100 Was a Trap

Prepared by Jamie Saettele, CMT

A test of 9400 is favored as long as price is above the April low of 9001. The test of 9090 last week is probably a trap. When viewed in a longer term context, the sloppy price action of recent weeks likely serves as nothing more than the final phase of consolidation before a major bull move.

Bottom Line (next 5 days) – higher

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