USD/CHF Registers Low 8 Pips Below Yearly Open
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: Wrote yesterday that “there isn’t much room until the 2013 low at .9023 (and this just 3 weeks after price was at the 2013 high). I’m back to looking for a low (was stopped out today). Watch the trendline that extends off of the October 2011 and 2013 lows (just below current price). Specific prices to keep in mind are .9138/49 (open for the year and 2/12 low) and the 2/1 close (low for the year) at .9073.” The low on Thursday came at the trendline and just 8 pips below the 2013 open price.
FOREXTrading Strategy: Long, .9110 stop, targets .9389 and .9470
LEVELS: .9073 .9130 .9200 .9290 .9333 .9389