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USD/CHF Rally Rejected at Trendline

USD/CHF Rally Rejected at Trendline

2014-04-07 21:10:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_usd-chf_body_Picture_4.png, USD/CHF Rally Rejected at Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDCHF traded into the year open and trendline resistance and pulled back. A break above the line that extends off of the July 2013 and January highs would make it possible that a corrective decline from the 2012 high is complete.

-Use the April 1 low as a pivot (bull/bear level).

LEVELS: .8745 .8813 .8844 | .8920 .8952 .9009

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

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