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USD/CHF Teeters on the Edge of a Cliff

USD/CHF Teeters on the Edge of a Cliff

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Teeters on the Edge of a Cliff

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCHF is trading below the line that extends off of the 2012 and 2013 (February) lows and has traded to a new low for 2013.

-The monthly pivot zone is .9110-.9237. The pivot is .9174, which is in line with the 8/27 and 8/28 lows.

Trading Strategy: In general, EUR and CHF are still acting well. Look for long opportunities on EUR and CHF against commodity FX. EURAUD is a prime candidate.

LEVELS: .8900 .8933 .9000 | .9070 .9146 .9180

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

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