News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
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
More View more
USD/CHF Hanging on Trendline for Dear Life

USD/CHF Hanging on Trendline for Dear Life

Jamie Saettele, CMT, Sr. Technical Strategist

DailyBars

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Hanging on Trendline for Dear Life

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

FOREXAnalysis: “The USDCHF key reversal (and J-Spike, first bearish one since 6/1/12) occurred from just below the January 2012 high (which raises another possibility regarding major trend.” The USDCHF failure to make a new high (so far) and confirm the EURUSD low is common at reversals. Market turns are often elusive and one more high can’t be ruled out but price would face the 61.8% retracement of the decline from the 2012 high and January 2012 high (.9594-.9608).

FOREXTrading Strategy: To eliminate risk from shorting in the middle of a triangle (a possibility right now), prefer to short on print below .9378 towards.

LEVELS: .9257 .9338 .9379 .9491 .9566 .9608

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

DISCLOSURES