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USD/CHF Trades Lower off of Trendline

USD/CHF Trades Lower off of Trendline

2014-04-30 23:27:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Trades Lower off of Trendline

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The same momentum considerations that apply to EURUSD apply to USDCHF (the March price low occurred with RSI above 30).

-.8745 (3/13 close) has provided support. Exceeding trendline resistance would make the case that an important low is in place. Until then, the market is pressured lower. The 4/11 close at .8759 remains uncovered (gap).

LEVELS: .8727 .8759 .8794 | .8823 .8849 .8915

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

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