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USDCHF Momentum Divergence Worthy of Consideration

USDCHF Momentum Divergence Worthy of Consideration

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Momentum Divergence Worthy of Consideration

Prepared by Jamie Saettele, CMT

“The USDCHF registered new lows last Wednesday daily RSI never pierced 30. This is a sign of potential exhaustion. The EURUSD also failed to make a new high Wednesday (intermarket divergence). I’m not trying to pick a bottom here but I am pointing out new shorts are high risk. Exceeding 9305 would warn that the trend has changed.”

LEVELS: 9184 9214 9248 9305 9352 9380

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