CHFUSD: Swiss Franc going sideways from here
Updated
In this chart I analyze the recent uptrend in the Franc. It appears to have ran into a wall, where the election day's low and the Brexit low sit, as well as a massive volume level, which will take time to break. I'd rather be flat here, and wait, we can look to buy dips in this or the Euro, or Gold or Silver probably meanwhile. This can serve as a hedge against our long positions in equities. I still see opportunity on the long side, not so much in the index, but in undervalued securities.
Good luck,
Ivan Labrie.
Good luck,
Ivan Labrie.
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Comment
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Looks like we may get the down move first.Comment
It's a very interesting chart, let's watch it and see how it unfolds. For now, it's following my idea of sideways or slight downside action here.Comment
Notice how we follow the arrow down as forecasted. So, it means we're not trending up, or we're in a correction of this potential trend reversal scenario.Or, if we break down further, we're resuming an intermediate term decline.
The dollar uptrend is threatened by a possible recession in the US though, so, a safe haven currency like the franc could resume the longer term move up we see in the charts too. Interesting to watch the developments here and on treasuries.
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It has the potential to turn up here today, but, if the recent low doesn't hold, it'll go to the arrow's target.Trade active
As expectec, 100% accurate forecast. Now time to go long and exit shorts.Comment
If we regain the top of the range, we'll see a massive rally.Comment
It appears to be trending up now, buy on dips.Comment
Great moves here...
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