USDCHF - Key average to platform further gains

Alan Collins 3cAnalysis

In line with yesterday's forecast Wednesday’s demand was extended. In fact investor demand accelerated, using the 13 day mvg avg as a platform for a test of parity and the highest levels traded for 2 months. The scope of the move means intraday signals for sentiment are at overbought extremes. This offers the scope for a negative, profit taking, reaction, but our call for this morning is a Modest Buy in the 1.0018/23 area but leaving room to also Buy any Dip to .9991, yesterday's Marabuzo line. The risk is .9958, Thursday’s open, with an immediate target of 1.0043. A move through that point then exposes sentiment to 1.0060, May’s peak, then 1.0088.

Average Platforms Gains

Author

Alan Collins

3cAnalysis

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

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