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11 May 2015
Buy USD/CHF dips – Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank, believes USD/CHF might be on its way to retest 0.9484 and 0.9509 levels, hence suggests buying dips towards 0.9290.
Key Quotes
“USD/CHF last week sold off to and is recovering from the .9070 38.2% retracement of the move seen this year (the low has been .9072). This was our short term target and given the TD perfected set up on the daily chart and break of the near term downtrend we would allow for a retest of the April low at .9484 and 200 day ma at .9509. This guard the 2 month downtrend at .9622.”
“Current Position: Tiny shorts .9324 stopped .9335. Recommended Trade: Buy dips .9290, .9260, stops .9200.”
Key Quotes
“USD/CHF last week sold off to and is recovering from the .9070 38.2% retracement of the move seen this year (the low has been .9072). This was our short term target and given the TD perfected set up on the daily chart and break of the near term downtrend we would allow for a retest of the April low at .9484 and 200 day ma at .9509. This guard the 2 month downtrend at .9622.”
“Current Position: Tiny shorts .9324 stopped .9335. Recommended Trade: Buy dips .9290, .9260, stops .9200.”