USD/CHF - Positive break of Key Average to Continue

Alan Collins 3cAnalysis

Asia saw a sharp, negative, reaction from the 13 day mvg avg yesterday. But that setback proved temporary with fresh buying, extending in Europe, taking USDCHF above the 13 day mvg avg. Net gains were not extensive but a 3rd up day in a row is enough to leaf technical indicators positive. Therefore, our call for this morning is a Buy from 7am but leaving room to also Buy any Dip to .9787, the 13 day mvg avg. The risk is yesterday's .9736 low with an immediate target of .9831. A move through that point then exposes sentiment to .9849 or even .9880, a 38% recovery of the Apr-Aug decline.

Above Key Average

Author

Alan Collins

3cAnalysis

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

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