Target Thursday: Cotton, EURCHF & UK100 hit targets

• Cotton bulls bag 80 points
  

• EURCHF secures all 4 bearish targets
  

• UK100 slams into 3rd bullish level
  

Anticipation was the theme this week as investors braced for the incoming US PCE data.

It felt like a typical “calm before the storm” across markets ahead of this key risk event.

Still, here are how these discussed instruments performed this week:

  1) Cotton plays the range..

• Where and when was Target Price (TP) published?

This technical scenario (COTTON) is based on the FXTM Signals that are released once a day before the opening of the U.S. trading session.

These signals are designed around a trading instrument’s most influential factor – PRICE – making them a powerful asset to your trading strategy.

It can be found in the MyFXTM profile under Trading Services… FXTM Trading Signals.

• What happened since TP was published?

Although it was a week of consolidation for FXTM’s Cotton, a major rebound could still be pending.

Still, prices pushed higher this morning – triggering a bullish setup on the M30 timeframe.

• How much in potential profits?

Cotton has hit all its bullish profit targets.

Traders who entered at 79.81 and exited at the final target level of 80.62 would have caught roughly 80 points.

  2) EURCHF slides to 2-week low.

• Where and when was Target Price (TP) published?

This technical scenario (EURCHF) is based on the FXTM Signals that are released once a day before the opening of the U.S. trading session.

These signals are designed around a trading instrument’s most influential factor – PRICE – making them a powerful asset to your trading strategy.

It can be found in the MyFXTM profile under Trading Services… FXTM Trading Signals.

• What happened since TP was published?

The EURCHF extended declines on Thursday as the Swiss Franc (CHF) appreciated across the board.  

The CHF was boosted by stronger than expected Q1 GDP figures out of Switzerland which cooled bets around the SNB’s next rate cut for 2024.

• How much in potential profits?

EURCHF has hit all 4 bearish targets.

Traders who entered at 0.98590 and exited at the final target level of 0.98428 would have gained roughly 16 pips.

  3) UK100 hits 3rd bullish profit target

• Where and when was Target Price (TP) published?

This technical scenario (UK100) is based on the FXTM Signals that are released once a day before the opening of the U.S. trading session.

These signals are designed around a trading instrument’s most influential factor – PRICE – making them a powerful asset to your trading strategy.

It can be found in the MyFXTM profile under Trading Services… FXTM Trading Signals.

• What happened since TP was published?

After initially tumbling in the previous session on inflation fears, prices stabilized this morning ahead of the PCE data on Friday.

• How much in potential profits?

UK100 has hit 3 out of 4 bullish targets on the M30 timeframe,

320 points for traders  who jumped in at 8179.2 and closed out at 8211.2.

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