Daily

eliottWaves_usd-chf_body_Picture_4.png, USD/CHF Inside Day Raises Possibility that Friday Was a Major Low

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-USDCHF dropped to its lowest level since October 2011 on Friday. There is no chart support until the October 2011 low at .8567. However, the USDCHF low is NOT accompanied by a new high in EURUSD. This divergence has occurred at turning points in recent years.

-Monday’s inside day raises the possibility that Friday was exhaustive.

LEVELS: .8567 .8700 .8800 | .8852 .8887 .8929

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