As noted on the previous weekly chart the pair may be starting a possible e" wave down of a triangle.
If the count is correct a long in the .9700 area could be a nice buy with a target of 1.1500.
If the RSI breaks the trendline I will be looking for a bounce in the 40 area.
If the count is correct a long in the .9700 area could be a nice buy with a target of 1.1500.
If the RSI breaks the trendline I will be looking for a bounce in the 40 area.
Note
Pretty hard crop today so watching to see if this turns into an impulse down for the bearish wave count posted below, USDCHF headed for .9300. The alt. I have is the ABC for the E leg of the triangle. Note
Looks like wace 1 of C may be nearing an end..looking for more logs with target of 1.1500
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.