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FOREX Technical Analysis: USD/CHF 9394 is Near Term Fibonacci Support

Jamie Saettele, CMT

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, FOREX Technical Analysis: USD/CHF 9394 is Near Term Fibonacci Support

Chart Prepared by Jamie Saettele, CMT


FOREXAnalysis: “The USDCHF rally probably commences a corrective advance towards 9400. The implications from price action since the September low are the exact same as that of the EURUSD (flipped of course).” Weakness from Friday’s high probably composes a b wave. Estimated support from Fibonacci comes in at 9294.


FOREXTrading Strategy: One may wish to turn bullish again on weakness below 9300, considering the SNB rate decision on Thursday.


LEVELS: 9213 9240 9294 9382 9408 9441

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