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USDCHF Triangle a Possibility

USDCHF Triangle a Possibility

2012-07-18 20:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Triangle a Possibility

Prepared by Jamie Saettele, CMT

“The USDCHF decline from 9872 is corrective, specifically a 4th wave decline. 4th waves are often choppy, sideways affairs that take the form of a triangle or flat. The action since the low certainly fits the description. It’s possible that a low is already in place at 9750 but any additional weakness should be capped by 9714/36 (if indeed the 4th wave interpretation is correct). The stop is below 9650.”

LEVELS: 9680 9715 9750 9840 9873 9990

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