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USD/CHF Inside Day at Top of Short Term Channel

USD/CHF Inside Day at Top of Short Term Channel

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_usd-chf_body_usdchf.png, USD/CHF Inside Day at Top of Short Term Channel

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCHF traded into late August lows and failed again. The level is reinforced by short term channel resistance (upward sloping).

-The line that extends off of the July and September highs may come into play as resistance later this week. The line crosses about .9257 on Thursday and decreases 7 pips per day.

Trading Strategy: Flat

LEVELS: .9037 .9063 .9110 | .9177 .9214 .9270

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