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FOREX Technical Analysis: USD/CHF Tests September Low

FOREX Technical Analysis: USD/CHF Tests September Low

2012-12-04 00:52:00
Jamie Saettele, CMT, Sr. Technical Strategist
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FOREX_Technical_Analysis_USDCHF_Tests_September_Low_body_usdchf.png, FOREX Technical Analysis: USD/CHF Tests September Low

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDCHF tested the September low today but remains just above the October low. Given the proximity of the October low, keep in mind the possibility of divergence between the EURUSD and USDCHF (new USDCHF low and NOT a new EURUSD high). This divergence occurred at the October low in fact.

FOREXTrading Strategy: I prefer to trade from the long side but near term pattern lacks clarity for a bullish entry.

LEVELS: 9100 9184 9213 9350 9412 9473

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