USD/CHF End of Day Drop into Support May Complete Decline
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: I’ve commented all week that “high volume areas to keep in mind for formation of a low are .9291 and .9217.” The former level has been reached (circled on chart above). The pattern is the exact inverse of the EURUSD (A-B-C decline with wave C as a diagonal).
FOREXTrading Strategy: Same as EURUSD and GBPUSD – this is right place for a turn…see if the market responds.
LEVELS: .9201 .9220 .9291 .9340 .9407 .9454