Short term
Trade view / 03 October 2016 at 7:34 GMT

Failure at averages points USDCHF lower

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

There remains a lack of follow through in either direction dominating the medium-term background to USDCHF. The midpoint of a flat weekly Keltner channel has acted as a fulcrum for trading for the last two months and this is matched by fluctuation around the 13/100-day moving average area. 

Net movement over the last five days was minimal but it is the continuation below the averages that leaves immediate signals for sentiment negative going into this week.

Management and risk description

A move to 0.9640 means the stop can be lowered to breakeven or better.


Entry: sell in 0.9720/30 area and any rally to .9769.

Stop: 0.9828 bid.

Target: 0.9640, 0.9592 or even 0.9536.

Time horizon: This week, ending Friday at 12 p.m. GMT.

Direction changes:
Below Averages

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Source: CQG

Below averages:
Below Averages
Source: CQG

Long Term
Source: CQG

— Edited by Michael McKenna

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Non-independent investment research disclaimer applies. Read more
04 October
yakcay yakcay
Good morning Alan. Are you still positive about this trade?
04 October
AlanCollins AlanCollins
Can never be entirely positive in the FX markets yakcay but although USDCHF has intraday upside potential the weekly view remains unaltered.
04 October
yakcay yakcay
Thank you Alan. I just value your opinion. That's why I keep on checking with you :)


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