Hourly
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–USDCHF has exceeded .9396, breaking the series of lower highs since the July high. Half of the decline from the July high has been retraced.
-Near term momentum (120 and 60 minute 12 period RSIs) is strong. The implications are for any weakness to prove corrective.
-Volume (CME futures) was at the 95th percentile over the last 20 days. The last 4 down days with 95th percentile volume were 8/13, 7/5, 5/17, 5/3. All at least gave way to several days of sideways action before new USDCHF highs were registered.
Trading Strategy: Plan is to buy the next dip – mark .9380-.9400 as a level to look for support.
LEVELS: .9350 .9380 .9415| .9477 .9519 .9550