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USD/CHF .8910 Back in Focus as Support

USD/CHF .8910 Back in Focus as Support

2014-01-23 02:17:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_usd-chf_body_Picture_4.png, USD/CHF .8910 Back in Focus as Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-On 12/27, USDCHF spiked to its lowest level since November 2011. The advance from the 12/27 low is impulsive (5 waves). As such, it’s possible that an important low is in place.

-The rejection at former lows (June and August lows) has given way to a larger dip. .8910 is possible support.

LEVELS: .8859 .8914 .8967 | .9005 .9039 .9084

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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