USDCHF: Prefer to buy dips

Jim Langlands FX Charts

USDCHF: 0.9781

Preferred Strategy: US$Chf has been choppy again on Tuesday, briefly taking out 0.9800 but unable to hold on to the gains and is now pretty much back where it started. While the hourlies are a little heavy, the 4 hour charts look constructive ho holding on to longs is favoured looking for a retest of the highs and perhaps 0.9835-50 although in the absence of any major data it may end up being another tight session. Support now seen at around 0.9740/50.

Buy US$Chf @ 0.9750. SL @ 0.9690, TP @ 0.9850.

24 Hour: Prefer to buy dips		Medium Term: Mildly Bullish
Resistance		Support
0.9900	Minor	0.9729	16 Oct low
0.9880	(50% pivot of 1.0343/0.9420)	0.9715	Minor
0.9850	200 WMA	0.9705	14 Oct low
0.9835	200 DMA/(61.8% of 1.0099/0.9420) /6 Oct high	0.9676	2 Oct low /(38.2% of 0.9420/0.9836)
0.9807	Session high	0.9642	25 Sept low

Author

Jim Langlands

FX Charts

Jim Langlands began his trading career in the commodities markets in London in 1976, before moving to Australia in 1979 to work as a floor trader on the Sydney Futures Exchange.

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