Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
-On 12/27, USDCHF spiked to its lowest level since November 2011. The advance from the 12/27 low is impulsive (5 waves). As such, it’s possible that an important low is in place.
-The market needs to overcome .8940 (daily closing preferably) in order to make the case for higher levels. .8831/59 is the final level of possible support before the December low. If .8800 gives way, then focus would shift to the October 2011 low at .8567.
LEVELS: .8839 .8866 .8888 | .8939 .8986 .9037
–Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.