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USD/CHF expected to correct lower near term – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likeliness of a correction lower in the pair in the short-term.

    Key Quotes

    USD/CHF saw a large outside day to the downside and the intraday Elliot wave counts have turned decidedly negative indicating losses to 1.00, .9902, which are the 38.2% and 50% retracements”.

    “The divergence of the daily RSI and the 13 count on the daily chart add weight to the idea that the market will correct lower near term”.

    “The market will find initial support at the 1.0145/22 19th and 24th November lows”.
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