USDCHF Bearish sentiment acts as backdrop

Alan Collins 3cAnalysis

Friday’s failure to break below the 13 day line, despite a strong decline, led to a good deal of caution going into this week. Yesterday's muted price action did little to change that situation with all trading confined tightly within the preceding day’s parameters. This ‘Inside’ day reflects investor uncertainty but this is offset, to a degree, but mildly negative intraday signals for sentiment. With these factors in the background, this morning’s call is a Cautious Sell at .9970 but leaving room to also Sell any Rally to .9991. The risk is 1.0019, Friday’s top, with an immediate target of .9950, Friday’s low. A move through that point then exposes sentiment to .9929 and .9909, this month’s opening price.

Inside Day

Lower Highs

Author

Alan Collins

3cAnalysis

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

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