Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the correction lower in spot could have terminated. Key Quotes “USD/CHF we suspect that the correction may have terminated ahead of initial support at the .9845 January high and the .9848 uptrend, we favour recovery from here. However currently the Elliott wave count on the daily chart is suggesting that the market is likely to correct back into the .9815/.9735 band and we are unable to rule out this scenario”. “Failure at the four month uptrend line at .9848 and .9724 (38.2% retracement) will target the .9535 10th April low and below here will trigger losses to .9425, the 14th March low”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US rates: More upside risks – Nordea Markets FX Street 5 years Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the correction lower in spot could have terminated. Key Quotes "USD/CHF we suspect that the correction may have terminated ahead of initial support at the .9845 January high and the .9848 uptrend, we favour recovery from here. However currently the Elliott wave count on the daily chart is suggesting that the market is likely to correct back into the .9815/.9735 band and we are unable to rule out this scenario". "Failure at the four month uptrend line at .9848 and .9724 (38.2% retracement) will target the .9535 10th April low… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
