nice flag pattern formed on usdchf. The longer it consolidates the bigger the breakout. usdchf has now recovered more than half of that massive drop we had couple weeks. my Prediction is we will get back up to the previous level where it was before because CHF is fundamentally weak.
The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency. As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their...
On January 6, I noted how the price action technicals were beginning to favor gold (here). Since, gold has begun to rally with force on both a global growth slowdown and increasing market turmoil. Naysayers will continue to hate gold, but both fundamentals and technicals remain supportive. The surprising (maybe not so much) move by the Swiss National Bank to...
First target is hit (Thanks Swiss National Bank). We will move stops up to just under our entry. The trade is at no risk and now we will sit on our hands and see how far she can go, As we mentioned this is a weekly setup so we expect a good size move. However, what we saw from the Swiss last night can be a game changer. USE STOPS AND DON'T BE A HERO. You...
Remember the Swiss National bank is committed to defending the currency at 1.20 with "determination". It may possible they are actively intervening at this point. 1.20 is the floor so buying now offer a great risk/reward opportunity. Unlikely to come again for a while. On the technical side, each lower platau of the 20 day MA is met with a higher and price...
A buy and forget pair with good risk reward ratio... :) Presents should arrive by Christmas..
This setup is using Bollinger Bands but since they cannot be drawn in the chart this approach is simple, better to see and understand. Stop price is open of previous candle. Entry price is at start of new candle. Limit price is set to be a 1:1 risk reward ratio.
Swiss economy stagnates, zero growth in the Q2 of 2014. Inflation in Switzerland is decelerated 0.1 percent in September to -0.1 percent. Swiss Unemployment Rate is unchanged. The FED ends QE3 and US GDP beating expectations in Q3. The USDollar basket is strengthen. Good entry point is at 0.95 area.
USDCHF near term bearishness As indicated by the price action reversal candles on the daily bouncing off resistance areas and the over all possible correction of the USD index after having a very strong bullish run...
Here is my short-term view: tinyurl.com A continued weakened USDCHF will support gold prices.
EURCHF has been drifting towards the lower end of a 3yr channel since the beginning of the year. Although it hasn't touched the 1.200 level the SNB has vowed to defend, it's gotten close enough in recent weeks to attract bargain hunters buying in anticipation of SNB intervention. I'm long at 1.208 and like the risk reward here as the weekly RSI, Stochastics and...
A rising MA bodes well for price while the stochastic may be reflecting a short term head fake. Stochastic has been making higher swing lows as well. The chart structure reflects an ascending triangle which usually serves as a continuation pattern which in this case means Franc strength.