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USD/CHF Drifts off of 2012 Low; Former Lows Now Resistance

Jamie Saettele, CMT

Weekly

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Drifts off of 2012 Low; Former Lows Now Resistance

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 made an outside week.


-Price is once again below the line that extends off of the 2012 and January lows.


-Price has dipped below the 2012 low. There is an uncovered close from November 2011 at .8847.


-Former lows at .8965 and .9000 are now resistance.

Trading Strategy: Flat


LEVELS: .8761 .8799 .8847 | .8965 .9004 .9044

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