USD/CHF Channel Defines Action from the Low; Hold or Fold?

| 14 oktober, 2013 | 0 kommentarer

4Hour

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Channel Defines Action from the Low; Hold or Fold?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

Price is trading around the line that extends off of the 2012 and February lows.

-The rally from the low (.8967) is contained by a corrective channel and the advance consists of 2 equal legs (equality would be .9129). The 9/25 high at .9137 is also nearby resistance. The close of the ‘no taper’ hour (2-3 eastern) on 9/18 seems to exert force on the market as well. The level was resistance on 9/24 and 9/25.

Trading Strategy: Like the EURUSD, there isn’t much to do right now.

LEVELS: .9018 .9065 .9080 | .9137 .9175 .9214

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Kategori: Analys från DailyFX

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