Karen Jones, analyst at Commerzbank, suggests that USD/CHF pair has been seeing an upside correction near term, the market saw a key day reversal on Tuesday last week from .9659. Key Quotes “A sustained break below the .9716/.9692 key support was not seen (location of the 25th June low, the January low and Fibo support) and we would allow for recovery to the 55 day ma at .9848. However we do note that the intraday Elliott wave counts are conflicting and it is possible that the correction is already over.” “Key resistance remains the 200 day ma at .9959, and we continue to look for this to cap the topside. Below .9659 (last weeks low) targets the .9543 September 2018 low. Longer term we target .9211/.9188, the 2018 low.” “Above the 200 day moving average lies the mid-June high at 1.0014 and 1.0123/78.6% retracement.” 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 Envoy: US is ready to resume talks with North Korea – Yonhap FX Street 4 years Karen Jones, analyst at Commerzbank, suggests that USD/CHF pair has been seeing an upside correction near term, the market saw a key day reversal on Tuesday last week from .9659. Key Quotes "A sustained break below the .9716/.9692 key support was not seen (location of the 25th June low, the January low and Fibo support) and we would allow for recovery to the 55 day ma at .9848. However we do note that the intraday Elliott wave counts are conflicting and it is possible that the correction is already over." "Key resistance remains the 200 day ma at .9959, and… 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.
