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USD/CHF January 2012 High .9595; Trendline is Slightly Higher

USD/CHF January 2012 High .9595; Trendline is Slightly Higher

Jamie Saettele, CMT, Sr. Technical Strategist


USD/CHF January 2012 High .9595; Trendline is Slightly Higher

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“If a major low is in place in the rate then a low probably forms between .8800 and .8860. A low formed at .8955 on 7/1 and USDCHF put in a strong July.”

-USDCHF has reached .9566/95 (January 2012 high and March 2013 high). It’s been foolish to even suggest that a countertrend move could develop but if one is going to occur then this is the right place (mentioned levels, trendline, and pitchfork) and time (new month and quarter) for one to take place.

--Tradingideas are availabletoJ.S. Trade Desk members.

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