USDCHF moves to upper end of Keltner channel
Demand for USDCHF was the dominant feature in Tuesday's trading. A second up day in a row resulted with prices moving to the upper end of an increasingly bullish Keltner channel. In addition, prices moved to their highest levels for 11 weeks. Intraday signals for sentiment are at overbought extremes but our technical studies suggest profit-taking will be temporary and limited.
Management and risk description
A move to .9922 means the stop can be raised to break even.
Entry: Buy in 0.9885/90 area and any 0.9857 dip.
Stop: 0.9820 offered.
Target: 0.9922 and 0.9953.
Time horizon: Intraday, ending London 4pm.
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