Short term
Trade view / 12 October 2017 at 7:36 GMT

Limited downside for USDCHF

Analyst / PIA First
United Kingdom
Instrument: USDCHF
Price target: 1.0000
Market price: 0.9725

USD Index

Getting very close to the support zone. We are looking for bulls to reappear anywhere between 92.55 and 92.18. This could possibly form a right shoulder of a bullish reverse Head and Shoulders formation. We look to fade (buy on dips) in the USD.  
 Source: Saxo Bank

Weekly – Messy picture in this timeframe. Broke the wedge formation to the downside but only to form a Double Bottom. We have seen a reaction lower from the reverse trend line resistance at 0.9835 but this week’s price action is likely to form an inside Harami, a clear sign of investor indecision. A break of the high and the pivotal 1.0000 Big Figure is the obvious target. 
 Source: Saxo Bank

Daily – Formed an Expanding Wedge that has an eventual bias to break to the upside. The target area would be 1.0324.
 Source: Saxo Bank

Intraday (eight-hours) – Broken the trend of higher lows but we are showing signs of stalling. The obvious support is located at 0.9676. With three bespoke support indicators located between 0.9677 and 0.9672, this is our preferred long entry point.
 Source: Saxo Bank

Intraday (30 minutes) – We have a 261.8% extension level located at 0.9665, just below the aforementioned bespoke support area. However, with the chart highlighting an Ending Wedge formation, we could break sooner. 
 Source: Saxo Bank

Management and risk description
USDCHF has a tendency to ‘run’ in the reverse direction to EURUSD. With four European Central Bank speakers scheduled for today we cannot rule out spikes. I am only buying dips. 


Entry: Buying at 0.9680

Stop: 0.9640

Target: 0.9800 and 1.0000

Time horizon: short-term

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on is found here
12 October
As Kurniawan As Kurniawan
ok sir,waiting for buy signal


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