Saxo Group Videos

Coleman: Looking to sell USDCHF

Ian Coleman from First4Trading is looking to sell Dollar Swiss (USDCHF). He says there have been three negative weekly performances in succession.

The selloff stalled at the Ichimoku cloud top, he explains, with a 61.8% Fibonacci pullback. Although there was a reaction higher, Coleman notes that only three mildly positive days were posted. He cites a lack of upside momentum which has helped form a corrective channel formation.

Ian is looking for limited upside in USDCHF, so he is looking to sell into rallies:

Sell: 0.9590

Stop: 0.9620

Targets: 0.9530 and 0.9477

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01:35 minutes
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