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USDCHF Key Level Moved Up to 9736

USDCHF Key Level Moved Up to 9736

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Key Level Moved Up to 9736

Prepared by Jamie Saettele, CMT

The USDCHF pop above 9800 satisfies minimum expectations for the wave v advance from 9736 but we can narrow in on additional (potential) objectives by zooming in on the advance from 9462. Common relationships in Elliott include equality between waves v and i and wave v = 61.8% of the length of waves i through iii. These 2 levels are at 9840 and 9945. The larger degree objectives are in the middle of these objectives at 9900. Any risk on longs should be kept to 9935. Dropping below that level would leave longs vulnerable towards 9680.

LEVELS: 9680 9736 9780 9838 9900 9945

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.