Day trade
Trade view / 07 October 2016 at 7:14 GMT

Two ways to play USDCHF bull-run today

Analyst / PIA First
United Kingdom
Background

USD Index 

A solid breakout of the bullish ascending triangle pattern. The next resistance is seen at 97.61 (161.8% extension from the 94.05-96.25 move) with the measured move higher at 98.47. We have the US Non-Farm Payroll release so there has to be a mild case for caution but many USD pairs are breaking formations (EURUSD and AUDUSD breaking descending triangles). 

USD Index

Source: Saxo Bank. Create your own charts with Saxo Trader click here to learn more


A pretty basic play today, looking to buy dips in the USD up to NFP, break of resistance over the figure. 

Fat finger in GBPUSD has sent all GBP crosses into no-man’s land so we will look at USDCHF today. 

USDCHF 

Monthly – In a bullish channel formation. We are above Ichimoku Cloud support and there is no sign that the corrective recovery is coming to an end. A full AB=CD formation takes the pair to 1.0686
USDCHF M
Source: Saxo Bank

Weekly – For the last thirty-five weeks we have been holding with a bearish channel formation. The higher lows in Q2 and Q3 of 2016 look to be also forming an ascending triangle formation (resistance at 0.9947). Both of these patterns have a bias to break to the upside. We are holding against the trend of lower highs at 0.9822 as we write. 
USDCHF w
Source: Saxo Bank 

Intraday (four-hours) – Holding within a channel formation with the trend of higher highs capping bulls. We also have a 161.8% extension level close to this resistance (at 0.9925). The most interesting fact is that the 261.8% extension (0.9941) sits very close to the triangle resistance (at 0.9947). We are looking to get long on dips before the figures or a break of resistance over NFP. 
USDCHF 4
 Source: Saxo Bank

Management and risk description

Parameters

Entry: Buying a dip at 0.9805 before NFP. Buying a break of 0.9835 over NFP

Stop: 40 pips from entry

Target: intraday 0.9940-45 / medium term 1.0460 (measured move target from the triangle)


— Edited by Clemens Bomsdorf

Non-independent investment research disclaimer applies. Read more
07 October
assi assi
Yesterday i was short EURGBP @ 0.8830...... today Saxo Bank stop me out @ 0.9798 and the high all of us see it (0.95326) can anybody explain that.....?? all so this high only on Saxo platform other platform the high is 0 .9303 ....!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
07 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I would suggest calling the help desk: http://www.saxobank.com/about/contact
07 October
assi assi
thanks Ian.....
07 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
just looking at tow other platforms for you. FXCM is at 0.9225 and IG Group is at a whopping 0.9960 .... I think it will be the same case as after the Swiss National Bank. That took sometime to establish the low (in this case the high) ....
07 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I know that a lot of accounts were adjusted after the SNB (not just at Saxo but everywehere)... good luck
07 October
assi assi
seems to me they stop me out on IG Group.....im trying to call them and i send email, but no respond till now ...!!!
07 October
AlexF AlexF
I am in since yesterday at 0,975
07 October
Andrew Perkins Andrew Perkins
I'm sat on my hands trying not to trade , its hard work
07 October
assi assi
Ian, Saxo Bank decide (0.9691) to be the high for EURGBP for todays move......
07 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Well done Alex ..... good idea Andrew.... wish I had this morning
07 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I seem to be the 'king of finding stops this week' ..... or where not to place them ... have a good weekend all
07 October
lee88 lee88
Hi Ian.... ur analysis is good... not smooth recently ... hitting alot of stops... but hey important thing is always have stops... keep up the good work....
07 October
lee88 lee88
Hi Assi.... Saxo is a market maker... so needless to say.... thats y always have ur stops in check... cos no mercy if u have no stops.... cheers bro...

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