USDCHF: Traded a tight range of 0.9924/77

Jim Langlands FX Charts

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.

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