USDCHF Update II: Corrective Reversal Could Reach 0.9390 Top ↑ Our Services (7-day trial)                   Subscribe to our newsletter Mar 08 2013 USDCHF broke higher in this week as expected into wave 5 of 3) that found resistance just beneath 0.9500 mark. A reversal from that high is quite strong so we think it's part of a deeper pull-back but still only a corrective retracement. We are talking about red wave 4) that could reach levels around 0.9390 before uptrend resumes. 0.9390 was also a swing low of wave four of one lesser degree, then we also see there a 38.2% retracement Fibo support and around these levels wave 4) distance would equal to wave 2). As such it's worth to keep an eye on 0.9390 level that could cause a bounce. Sentiment table Current Trend/Sentiment Directional Bias Strategy Up 03/08 Waiting on wave 4) pull-back     Newsletter archive

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