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Collins: Climbing Swiss peaks

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July 31, 2014 alan collins, alan collins 3c analysis, banking, buying opportunity, chf, chf usd, eur, euro, euro dollar, europa, europe, european central bank, eurozone, eurusd, forex, forex buying, forex idea, forex market, forex markets, forex saxo bank, forex trade idea, forex trading, forextrading, fx, fx award, fx crosses, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trading, fx volatility, fxallocationmodel, fxmarkets, fxmonthly, fxoptions, fxspot, fxtrade, gbp, gbp usd, markets, markets missing, saxo bank saxo tv, saxo tv, swiss, swiss bank, swiss economy, swiss franc, swiss national bank, swissfranc, trade idea, traders tale, tradingfloor.com, usd, usd index, usd strength, usdchf, usdchf bull, usdchf bullish
Alan Collins is trading USDCHF. With USD showing strength against EUR, GBP and CHF, the pair is at the highest levels since January and the market is expecting the most aggressive monthly performance since May 2013.
Intraday USDCHF is over-bought and ripe for profit taking, according to Alan, who warns that a medium-term dip is likely to be limited.
Alan Collins suggests looking at 0.9035-47 for fresh buying, and he adds that on the upside 0.9135 is an important recovery point.
There could be consolidation coinciding with EURUSD at 50% level.
Alan's targets are 0.9198 and 0.9232