Short term
Trade view / 22 August 2016 at 9:27 GMT

Negative channel to dominate USDCHF

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Price target:
Market price:

Last week was dominated by selling pressure. USDCHF was sold at lower levels each day, the most negative prices for two months were posted and it was a second down week in a row. All of these moves took the currency pair to the lower end of a negatively trending Keltner channel.

Oversold extremes are a concern and have attracted some profit taking this morning. But our technical studies suggest such a bounce to be temporary with sellers expected to return and dominate this week's price action.

Management and risk description

A move to 0.9536 means the stop can be lowered to break even or better.


Entry: Sell in 0.9640/45 area and a rally to 0.9676

Stop: 0.9748 bid

Target: 0.9536 and 0.9444

Time horizon: this week, ending Friday, 1200 GMT.

Two-month lows:
2 Month Lows
 Limited bounce:
Limited Bounce
Long term:
Long Term
 All charts from CQG

— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more


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