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USD/CHF Opens at Low and Rebounds

USD/CHF Opens at Low and Rebounds

2013-09-16 00:07:00
Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Opens at Low and Rebounds

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCHF gapped lower and opened several pips from its low before rallying to close New York trading several pips from its high.

-The weekly low for August (.9227) served as support as did the line that extends off of the 8/20 and 8/28 lows.

-Price is again trading around the line that extends off of the October 2011 and January 2013 lows.

Trading Strategy: Flat

LEVELS: .9146 .9173 .9245 | .9295 .9340 .9396

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

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