4Hour
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
–USDCHF continues to bounce along the top side of the line that extends off of the Jul and Sep highs.
-Price traded below its 11/1 low late Friday and on Sunday evening. The EURUSD failed to exceed its 11/1 high. The divergence is subtle but it is there.
-Exceeding .9190 would suggest that a larger advance is underway.
Trading Strategy: Like the EURUSD, long USD here could work but the trade seems forced. Not yet (for me at least).
LEVELS: .9000 .9044 .9083 | .9149 .9215 .9250
— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com