Today's First For Trading Call

USDCHF - Setback complete; Bullish above .9344

Ian Coleman - First 4 TradingIan Coleman - First 4 Trading , Analyst, First 4 Trading
Filed in Today's First4Trading Call
United Kingdom, 03 October 2012 at 05:29 GMT+0
Recommended Recommend Unrecommend Recommend

Follow through selling on USDCHF from .9439, the three-week high, resulted in the pair posting the second negative day in succession. However, the sell-off found support marginally under Friday's base of .9335 and half the initial losses were recaptured. This bullish sentiment has continued overnight and price action looks to be focusing on .9410, channel resistance. Risk/reward is ample. Our call is bullish above a stop of .9344.

The profit targets are: .9410, .9439 and .9500.

The risk however would be with selling through a stop of .9344.

USDCHF Daily

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