USDCHF - Bearish Sell at .9640 and .9665 Rally. Stop .9695

Our first weekly downside target was met Monday as last week's decline deepened. A 4th down day in a row resulted, correcting more than 62% of the Sep-Nov rise. The scope of these moves mean intraday studies are overstretched but with USDCHF tracking the daily Keltner channel lower, rallies are expected to be temporary. In light of this, but with a good deal of caution, this morning’s call is a Sell but leaving room to also Sell at .9665. The risk is .9695, intraday Marabuzo line, with downside objectives at .9603, yesterday's low, .9584 and .9566, a 76% correction of the Sep-Nov rise.

Yorum:

Both Sell levels triggered and the market modestly lower approaching the end of London trading. As this is an intraday forecast I recommend closing.