Published On: Tue, Feb 14th, 2017

USDCHF 100-day average a platform for gains

InstaForex

Background

The USDCHF 100-day moving average acted as a platform for investor demand on Monday. This resulted in a third up day in a row as USDCHF was bought to the most positive levels traded for four weeks. Gains were still not extensive and so signals for sentiment are not powerful, especially after a negative reaction in Asia. Nonetheless the bias is clearly positive and we look for the upside to gradually build.

Management and risk description

A move above 1.0070 means the stop can be raised to break even.

Parameters

Entry: Buy in 1.0035/40 area and at 1.0016.

Stop: 0.9982 offered.

Target: 1.0070, 1.0095 and 1.0137.

Time horizon: Intraday, ending 16.00 GMT.

Average supports

 Asian decline

 Long term

 All charts from CQG. Create your own charts with SaxoTrader; click here to learn more

— Edited by Susan McDonald

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