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USD/CHF Slammed back To Year Open Price

USD/CHF Slammed back To Year Open Price

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Slammed back To Year Open Price

Chart Prepared by Jamie Saettele, CMT

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

-The last update noted that “USD/CHF pullbacks are becoming shallower. Such developments indicate a strong trend but also warn of complacency and the risk of a washout before the trend can resume.” So, is this the washout or the beginning of a more significant reversal? In truth, USDCHF could trade all the way back to former triangle resistance before resuming higher. That line isn’t until near .9700.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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