The Swiss Franc is approaching a potential support zone that could trigger a nice upside move. The recent downward trend from the Jan 31 high has been weak when looking at the retracements of the measured moves. The dominant mm has a deep retracement and the 1st level supporting mm has a medium deep retracement. The fib projections from these along with a few others are providing a nice support zone ~ 0.9775 to 0.9915. I will be looking for more clues of a potential turn if we trade down into this area.
Tuesday, February 14, 2017
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