USDCHF - Average supports further gains

Alan Collins 3cAnalysis

In line with both yesterday's, and this week's, positive calls Wednesday’s strong downside rejection impacted on Thursday’s sentiment. The crucial 13 day mvg avg again acted as a level to attracted buyers and another attempt to break above the Marabuzo line created Nov 1st was made. Although that level yesterday, it has been exceeded in Asia and while caution does need to be applied, our intraday technical studies are positive. So, this morning’s call is Bullish from the open but leaving room to also buy a 1.0041 dip, half of yesterday's net gains. The risk is 1.0007, Thursday’s low, with upside targets of 1.0095, last month’s peak, 1.0121 and 1.0153.

Average Supports

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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