Weekly
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–After trading into late August lows, the USDCHF reversed sharply and is forming an outside week.
-Price is once again below the line that extends off of the 2012 and January lows.
-5 waves down are visible from the 10/15 high (may end from slightly lower levels). The pattern presents an opportunity to sell strength. Resistance is from .9070 to .9125.
Trading Strategy: Range trading may take hold before a larger breakdown. .8995 is support. .9070-.9125 is resistance.
LEVELS: .8930 .8967 .8992 | .9070 .9092 .9122