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Steve O'Hare - First 4 Trading
Steve O’Hare, of First4Trading.net, explains in a technical analysis of charts why he is looking to buy silver in a short-term trade. He is aiming to buy USDCNH at current levels and on a dip to 6.30. His stops are at 6.27 or 6.25 (aggressive) and his targets are 6.42 & 6.52.
Day trade
/
Sell
Trade view / 13 February 2018 at 7:20 GMT

Bias remains bearish for EURCHF

Analyst / PIA First
United Kingdom
Instrument: EURCHF
Price target: 1.1495
Market price: 1.1532
Background

Swiss consumer prices fell 0.1% in January, in line with expectations, with the year-on-year rate at 0.7% from 0.8% previously, maintaining expectations of a very loose National Bank monetary policy.

The currency was hampered by a decline in defensive demand as a recovery in global equity markets was sustained during the day. 

Technical

Trading within a Bearish Channel formation. 
We have a 61.8% Fibonacci pullback level of 1.1566 from 1.1449 to 1.1639. 
Bespoke resistance is located at 1.1568. 
Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.1568, resulting in improved risk/reward. 

EURCHF daily chart
EURCHF D
Source: Saxo Bank 


Management and risk description

Please note all our intraday trade ideas are closed at 9pm UK (US market close) if they have not reached target or stop

Parameters

Entry: Intraday – We look to sell at 1.1565

Stop:1.1590

Target:1.1495 and 1.1465



— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
13 February
alki alki
Ian: Good morning. If a day trade is not triggered but technicals are unchanged could the idea be considered still viable next day?
13 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
GM alki. Yes, but it is better to check. We have a grey box system that highlights support and resistance. It will change from one day to the next.
13 February
AlexF AlexF
Ian in a big short USDJPY just brok 108 any insights from ur side
13 February
David12 David12
Good morning all, it sounds it's the day of movements ...; JPY crosses started nicely ...
13 February
AlexF AlexF
John had in his chart righltly so 107.78 we just rebounded on this level how strong is that after this nothing till 100
13 February
AlexF AlexF
its on this 107.78 level now after that not much
13 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
our medium term call in USDJPY is short at 109.20
13 February
AlexF AlexF
?
13 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
next support in the USD at 89.60
13 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
published on the 28th Jan
13 February
David12 David12
Ian, 109.20 ?
13 February
David12 David12
yes, remember it .
13 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I did a video on USDJPY some time ago. We also published a medium-term trade idea to our direct clients (as above). If you have a question, can you please be more specific than a question mark... lol. Thanks
13 February
Cesime Cesime
GM Ian et all
13 February
tonyovsalford tonyovsalford
Has this triggered guys?
13 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
nope ... 1.1565 is our resistance
13 February
tonyovsalford tonyovsalford
Thanks:)
14 February
Chris O'Connell Chris O'Connell
is this still good to go, i know its intra day so was unsure
14 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
we are still buying dip today Chris

USDCHF - Intraday - We look to Buy at 0.9302 (stop at 0.9272)

Continued downward momentum from 0.9405 resulted in the pair posting net daily losses yesterday. A bullish reverse Head and Shoulders is forming. Reverse trend line support comes in at 0.9316. Levels close to the 61.8% pullback level of 0.9302 found buyers. The selloff is close to an exhaustion count on the intraday chart. Preferred trade is to buy on dips.

Our profit targets will be 0.9375 and 0.9480
14 February
Edgaras Edgaras
Ian, are you looking for strength in all USD pairs or only with CHF?
14 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
GM Edgaras... in most pairs. Selling rallies AUDUSD GBPUSD, buying dips in USDCAD. They are the ones that have our bespoke resistance levels combined
14 February
Edgaras Edgaras
Great, thank you for your hard work :)
14 February
Chris O'Connell Chris O'Connell
thanks Ian much help as always
14 February
Edgaras Edgaras
I believe today's USD actions are a bit unexpected. Do you still consider to sell GBP on rallies? Today's rally is quite massive.
14 February
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
no ... day trades have been cancelled
14 February
Edgaras Edgaras
Thank you Ian. Your assumptions about USD future?

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