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USD/CHF

USD/CHF

2013-09-25 22:04:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

USD/CHF Hold or Fold; Price is at 2012 to 2013 Trendline

Daily

eliottWaves_usd-chf_body_usdchf.png, USD/CHF

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCHF is trading at the line that extends off of the 2012 and 2013 (February) lows and is nearing the year to date low of .9024.

-The 2/1 close at .9074 is the final possible support prior to the low at .9024. Wednesday’s low was .9077. A bounce from here

-USDCHF slipped below last week’s low while EURUSD stayed below its high. The divergence is subtle but it’s there.

Trading Strategy: In general, EUR and CHF are acting well. Look for long opportunities on EUR and CHF against commodity FX. Here is a NZDCHF example from Wednesday.

LEVELS: .8933 .9024 .9078 | .9146 .9182 .9233

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