USDCHF Triangle Break Objectives at 9557 and 9414
240 Minute Bars
Prepared by Jamie Saettele, CMT
The USDCHF thrust lower, although unexpected, probably composes wave C within an A-B-C decline from the July high (9971). The move likely extends a bit lower. 2 objectives are derived from traditional techniques (subtracting width of triangle to final pivot within triangle and breakout level); 9557 and 9414. Interestingly, these levels coincide with former pivots from early July (9563) and the former 4th wave of one less degree (9420). In other words, look lower over the next several days into a low.
LEVELS: 9500 9563 9604 9645 9670 9700