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.
–A corrective decline from the 2012 high may be complete. The topside of the just broken trendline (could be anywhere from .8910 to .9000) and 12/20 high is holding as support but near term structure leaves open the possibility for a period of wider ranging below .8985. .8910 is of interest as support if reached.
LEVELS: .8971 .9002 .9031 | .9111 .9190 .9249
–Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.