FX – Potential Buys and Sells – BUY USDCHF

Below are buy and sell signals on currencies for potential use in your trading strategy. These currencies have traded outside their short-dated Bollinger Bands. A signal occurs

 when there is a move outside the band and then a move back through the band. Ideally, the bands will not be widening, meaning that volatility is not increasing.

Currency Signal Outside Level Band Level Price Now Profit Target
USD / CHF

BUY

0.8668

0.8690

0.8720

0.8950

USD / RON

BUY

2.7783

2.7815

2.7789

2.8520

GBP / CZK

BUY

26.952

27.050

27.076

27.450

GBP / TRY

SELL

2.5334

2.5210

2.5140

2.4890

EUR / TRY

SELL

2.2418

2.2360

2.2341

2.1975

 

The readings are taken from a daily chart. The “outside level” is the daily high (for Sells) or low (for Buys). The “profit target” is the simple moving average.

 The signal occurs when the currency moves back through the band level in the direction of the potential trade. The Bollinger Bands are at 2 standard deviations.

All of the currencies highlighted in the table are available for trading on the CMC Markets platform.

For an example and explanation of this method please see the post at: http://blog.cmcmarkets.com.au/2011/04/14/fx-potential-buys-and-sells-%e2%80%93-method/

About michaelmccarthycmc

Chief Market Strategist - CMC Markets and Stockbroking Regular on ABC, BBC, Bloomberg, Channel TEN, CNBC, SBS and SKY
This entry was posted in Forex, Market, Trading and tagged , , , , , . Bookmark the permalink.

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