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
More View more
USD/CHF Goes Near Term Parabolic-Watch .9780

USD/CHF Goes Near Term Parabolic-Watch .9780

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Goes Near Term Parabolic-Watch .9780

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader?

FOREXAnalysis: The USDCHF has returned to the vicinity of the May top. Momentum is increasing, so rather than looking for a reversal up here, expect weakness to prove corrective. Watch for support in the coming days from the trendline that extends off of the 6/19 and 7/3 lows and resistance from .9780.

FOREXTrading Strategy: Waiting for a reaction to re-buy…that could happen from nearby levels (keep .9780 in mind). .9640 may end up as important support…this is where the rally seems to have accelerated from on Tuesday.

LEVELS: .9642 .9666 .9710 .9781 .9838 .9971

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

DISCLOSURES