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USD/CHF Friday News Top Trade in Play

USD/CHF Friday News Top Trade in Play

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Friday News Top Trade in Play

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: The USDCHF spiked into .9550 on Friday but is back below the 50% retracement of the decline from the 2012 high and November high (.9512). The return to the range raises the possibility that Friday’s post NFP spike was terminal, at least for several weeks.

FOREXTrading Strategy: Need below .9400 in order to suggest a deeper drop into .9223/86?

LEVELS: .9338 .9392 .9462 .9513 .9608 .9656

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