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USDCHF Focus Remains on 9900

USDCHF Focus Remains on 9900

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Focus Remains on 9900

Prepared by Jamie Saettele, CMT

No change. “Risk on longs can be moved up from 9735 to 9765. Dropping below that level would leave longs vulnerable towards 9680. “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.”

LEVELS: 9680 9765 9820 9900 10000 10065

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

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