We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
FOREX Technical Analysis: USD/CHF Current Level is Final Level Before Low

FOREX Technical Analysis: USD/CHF Current Level is Final Level Before Low

2012-11-27 02:28:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

FOREX_Technical_Analysis_USDCHF_Current_Level_is_Final_Level_Before_Low_body_usdchf.png, FOREX Technical Analysis: USD/CHF Current Level is Final Level Before Low

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDCHF is at the final defined level (10/5 and 10/31 lows) before the October low. In other words, if price doesn’t hold here, then there is nothing to stop a test of the October low. Not surprisingly, near term pattern is suggestive a few more legs lower in stair step fashion (small 4th and 5th waves) before we see potential for a material bounce. Strength above 9337 would create overlap and suggest that a low is in place.

FOREXTrading Strategy: Look lower as long as price is below 9337. Once again, divergence between the USDCHF and EURUSD (new USDCHF low and NOT a new EURUSD high) may mark the turn. This occurred at the October turn.

LEVELS: 9184 9213 9265 9300 9337 9392

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

DISCLOSURES

News & Analysis at your fingertips.