USD/CHF - Setback limited, sentiment positive

Alan Collins 3cAnalysis

Contrary to yesterday's bullish call, the profit taking that ended Tuesday’s price action deepened. Losses were modest however and all price action was contained tightly within the previous day’s range. This ‘Inside’ day highlights investor indecision but a late move higher emphasises the weakness of the setback and renews a bullish technical bias. So, this morning’s call is Bullish from the open but leaving room to also buy a 1.0178 dip, Tuesday’s Marabuzo line. The risk is 1.0150, Tuesday’s low, with upside targets of 1.0231, this week's peak, 1.0258 or even 1.0286.

Marabuzo Line Supports

Author

Alan Collins

3cAnalysis

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

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