News Column

USD/CHF Needs to Hold .8900 to Stay Constructive

January 28, 2014

Jamie Saettele, CMT

Daily 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. -The rejection at former lows (June and August lows) has given way to a larger dip. The rate does continue to hold the top side of the former resistance line so a secondary low may be in place. LEVELS: .8859 .8900 .8926 | .9030 .9099 .9156 --Trading specifics (setups with entries, stops, targets) are availableto J.S. Trade Desk members .

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Source: DailyFx

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