USD/CHF Holds High; Doesn’t Confirm EUR/USD Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: An impulsive decline from the post NFP spike high (.9551) is evident. Moreover, today’s EURUSD low was not confirmed by a new USDCHF high. Such divergences are common at turns. Weakness below .9429 is needed to suggest a deeper drop is underway.
FOREXTrading Strategy: Need below .9429 in order to suggest a deeper drop and trade from short side.
LEVELS: .9257 .9338 .9429 .9513 .9608 .9656
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