Renewed demand for USDCHF

0
10


Background


After two indecisive trading days, and contrary to this week’s report, buyers returned to USDCHF. This was driven by a reappraisal of CHF value with EURCHF rising by more than 70 pips.

USDCHF gains took prices modestly through last Wednesday’s Marabuzo line and that move does emphasise the strength of renewed demand. Volatility remains a factor and so caution is needed, but we’re looking for levels to be long.

Management and risk description


A move to 0.9774 means the stop can be raised to break even.

Parameters

Entry: buy in 0.9730/35 area and any 0.9703 dip.

Stop: 0.9670 offered.

Target: 0.9774 and 0.9808.

Time horizon: intraday, ending 1500 GMT.

Marabuzo line

 

Strong demand

 

Long term

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

– Edited by Gayle Bryant

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Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here



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