Kay Van-Petersen
Kay Van-Petersen, macro strategist at Saxo Capital Markets, digests the market action seen in week 43 and gives his tactical positing. Van-Petersen favours a USD step back, sees gold consolidating, and believes that European equities are overheated.
Day trade
Trade view / 12 October 2016 at 5:55 GMT

USDCHF moves to upper end of Keltner channel

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

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.

Through average
Through Average
Higher lows
Higher Lows
 Long term
Long Term
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— Edited by Susan McDonald

Non-independent investment research disclaimer applies. Read more


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