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USD/CHF above .9190 Would Bolster Bullish Prospects

USD/CHF above .9190 Would Bolster Bullish Prospects

Jamie Saettele, CMT, Sr. Technical Strategist

4Hour

eliottWaves_usd-chf_body_Picture_4.png, USD/CHF above .9190 Would Bolster Bullish Prospects

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDCHF continues to bounce along the top side of the line that extends off of the Jul and Sep highs.

-Price traded below its 11/1 low late Friday and on Sunday evening. The EURUSD failed to exceed its 11/1 high. The divergence is subtle but it is there.

-Exceeding .9190 would suggest that a larger advance is underway.

Trading Strategy: Like the EURUSD, long USD here could work but the trade seems forced. Not yet (for me at least).

LEVELS: .9000 .9044 .9083 | .9149 .9215 .9250

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

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