Show less
Video / 13 July 2016 at 6:56 GMT

Why I'm long USDCHF: Collins

Alan Collins of 3cAnalysis is looking to long USDCHF on any short term dips.

Collins says that like most of the major currency pairs, the aftermath of the Brexit vote is a key background element to current price action.

He points out that in USDCHF the gains have created a Bullish Outside day pattern at June’s lows, breaking the 13-day moving average and, most importantly, triggering a positive cross of the RSI above its own moving average. 

That key indicator has remained positive since despite the setback that ended June and began July, says Collins.

Collins also mentions that this month’s low was also marked by a Bullish Outside day with the last four days all producing net gains – fuelled in part by a weaker CHF (EURCHF rising by 1 ½ big figures).

Collins is happy being long at current prices and also looking for any setback near yesterday's 0.9825 open to add to longs.
In addition, the 200-day moving average has been exceeded and Collins is looking for the market to focus on Fibonacci extensions of 0.9926, parity, or even 1.0079.

Collins thinks that the risk level is currently assessed as 0.9757 although a more conservative point (especially as a trailing level) may well be a close below the 13-day moving average.


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail