USDCHF: The short term momentum indicators are neutral

Jim Langlands FX Charts

USDCHF: 0.9388

US$Chf has traded a tight 0.9363/0.9403, leaving the outlook unchanged.

1 hour/4 hour indicators: Neutral.

Daily Indicators: Turning higher

Weekly Indicators: Turning lower

Preferred Strategy: The short term momentum indicators are neutral, suggesting more range trading ahead but the daily charts are turning higher, so looking to buy dips towards 0.9335/55 seems to be the plan, hoping for a continuation of the squeeze higher, eventually towards 0.9470 and possibly on to 0.9500.

On the downside, support will be seen at 0.9335/50 ahead of 0.9290/0.9300.

Buy US$Chf @ 0.9340. SL @ 0.9285, TP @ 0.9465

Resistance		Support
0.9500	Minor	0.9363	Session low
0.9469	8 Feb high	0.9355	Daily Tenkan
0.9450	Minor	0.9335/39	200 HMA /7 Feb low
0.9425	Minor	0.9300	Minor
0.9403/08	Session high/9 Feb high	0.9250	2 Feb 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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