USDCHF: Traded a tight range of 0.9924/77

USDCHF: 0.9925
US$Chf has traded a tight range of 0.9924/77 on Friday, leaving the mildly positive, medium term outlook unchanged on Monday.
1 hour/4 hour indicators: Turning lower
Daily Indicators: Turning higher
Weekly Indicators: Neutral
Preferred Strategy: With the short term charts looking a bit heavy, a test of 0.9900/0.9885 would not surprise although the daily momentum indicators still look constructive and buying dips is preferred as I suspect that we could eventually see a run back to 1.0000 and possibly to 1.0040.
Buy US$Chf @ 0.9890. SL @ 0.9865, TP @ 0.9980.
| Resistance | Support | ||
| 1.0015 | Minor | 0.9923/20 | Friday low /(23.6% of 0.9742/0.9977) |
| 1.0000 | Psychological | 0.9900 | Minor |
| 0.9971 | Friday high | 0.9985 | (38.2% of 0.9742/0.9977) |
| 0.9965 | (76.4% of 0.1137/0.9816) | 0.9854 | 6 Dec low / (50% of 0.9742/0.9977) |
| 0.9945 | Minor | 0.9835 | 100 WMA /5 Dec 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.

















