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
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
More View more
USD/CHF Continues to Probe Topside of Former Trendline

USD/CHF Continues to Probe Topside of Former Trendline

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Continues to Probe Topside of Former Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

FOREXAnalysis: The USDCHF has retraced half of the decline from the February low…that’s what happens when a market position gets crowded. Weakness has halted at the top side of the trendline that extends off of the 2012 and March 2013 highs…at least so far. If this level can’t hold, then .9333 is in play along with the trendline that extends off of the 2013 lows (.9333 on Thursday).

FOREXTrading Strategy: Was stopped out of a long taken this morning on the spike below .9400. This is a great level for a low to form but so too is the 61.8% at .9333, which is reinforced by the trendline off of the 2013 lows. Wait and see for now.

LEVELS: .9246 .9333/47 .9395 .9470 .9520 .9618

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

DISCLOSURES