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Short term
Trade view / 06 September 2016 at 12:17 GMT

USDCHF looking toppy, downside likely

Technical Analyst / FuturesTechs
United Kingdom
Instrument: USDCHF
Price target:
Market price:

Last Thursday was a bearish "outside day" in USDCHF as the recent rally promptly ran out of steam. We went into Friday's jobs numbers looking to see if this would be confirmed. The answer was "yes and no", but price action since then has encouraged me to think we will soon get confirmation and head lower.

In a bigger picture, this is basically a range trade, and the chart suggests USDCHF may have just hit the top end of the range and found sellers again.

Management and risk description

Place stop above 0.9820-27 initially. Move to a scratch once the first target is hit.


Entry: Below 0.9800 (currently 0.9790)

Stop: Above 0.9830 

Targets: 0.9740, 0.9660, 0.9580 

Time horizon: 1-2 weeks

USDCHF daily candlestick
Source: CQG Inc 

USDCHF weekly bar chart
Source: CQG Inc  

— Edited by John Acher

Non-independent investment research disclaimer applies. Read more
06 September
bancodemon bancodemon
straight forward analysis.
06 September
Subbarao Subbarao
Sir can you say highest targets for tomorrow
06 September
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
First target hit so we can now move the stop to entry on the balance as per the commentary.
06 September
bancodemon bancodemon
08 September
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
The second target on this trade (0.9660) has been HIT now. Please move the stop on the remaining balance to 0.9720.
08 September
bancodemon bancodemon
09 September
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Stopped for profit on the balance so a net 80-odd tick gain.
09 September
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Pays for my stop in EURJPY yesterday... and a bit on top!


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