USD/CHF Signs of a Turn at Huge Confluence
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“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.
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