Day trade
Trade view / 16 June 2016 at 5:52 GMT

Weak rally keeps USDCHF sentiment negative

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

There remained limited net movement, for a fourth day in a row Wednesday, as USDCHF is distorted by a volatile EURCHF. Wednesday’s negative forecast yielded some minor gains although selling pressure was most evident in the latter part of the day. Importantly the minor negative decline emphasised the weakness of the bounce from last week's bottom. Coupled with a falling Keltner channel, and Asian selling, the focus is on the downside.

Management and risk description

A move to 0.9555 means the stop can be lowered to break even.


Entry: sell in 0.9590/0.95 area and any rally to 0.9620.

Stop: 0.9656 bid.

Target: 0.9555 and 0.9519.

Time horizon: intraday. End 1600 London time Thursday, June 16.

Weak profit taking
Weak Profit Taking
Asian selling
Asian Selling

Long term
Long Term
Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more
16 June
leo_100 leo_100
its trending on the support line... symmetrical triangle with bull engulfing.. going long based on the trend :)
16 June
Alejo76 Alejo76
going in the opposite way..!
16 June
Gennady Gennady

It is a pity, a total failure


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