100-day average platforming gains for USDCHF


Background


Although yesterday’s report acknowledged a bullish bias we were a little cautious. Overbought extremes did lead to a profit-taking reaction, but the setback failed to break through the 100-day moving average or even test Tuesday’s Marabuzo line. 

By the close the limited setback had attracted fresh buyers and minor net gains were posted: four up days in a row, despite the varying extent, emphasises the underlying tone with only overbought extremes introducing caution.

Management and risk description


A move to 1.0118 means the stop can be raised to break-even.

Parameters

Entry: buy in 1.0087/92 area and and dip to 1.0061.

Stop: 1.0031 offered.

Target: 1.0118, 1.0145 and 1.0172.

Time horizon: intraday ending 1500 GMT.

Average platforms

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100-day average platforming gains for USDCHF

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