Negative channel to dominate USDCHF
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.
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.
— Edited by Clare MacCarthy
Non-independent investment research disclaimer applies. Read more