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USD/CHF Double Inside Day; Pullback is Possible

USD/CHF Double Inside Day; Pullback is Possible

2013-11-11 22:20:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_usd-chf_body_usdchf.png, USD/CHF Double Inside Day; Pullback is Possible

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The USDCHF spiked above the line that extends off of the Jul and Sep highs. At this point, both the EURUSD and USDCHF have traded through their Oct price extremes. The trend has changed.

-The 9/13 close remains uncovered at .9289. We saw how USDJPY and EURUSD responded to previously uncovered closes today so keep this level in mind.

Trading Strategy: After last week’s emotional rollercoaster, it’s a good time for a pullback. .9090-.9150 is of interest as support.

LEVELS: .9044 .9091 .9151 | .9220 .9249 .9278

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

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