COT data shows commercial longs on Franc futures are the highest in 5 years.
barchart.com/futures/commitment-of-traders/technical-charts/S6*0
The seasonal play for the Swissie is a long mid-May along with other USD based currencies.
charts.equityclock.com/seasonal_charts/CHFUSD.PNG
charts.equityclock.com/seasonal_charts/EURUSD.PNG
30 Year yields top out around mid-May each year, which is another reason that the US Dollar experiences a fall starting then on average.
equityclock.com/pictures/TreasuryYield30YearsTYXSeasonalChart_F393/image.png
barchart.com/futures/commitment-of-traders/technical-charts/S6*0
The seasonal play for the Swissie is a long mid-May along with other USD based currencies.
charts.equityclock.com/seasonal_charts/CHFUSD.PNG
charts.equityclock.com/seasonal_charts/EURUSD.PNG
30 Year yields top out around mid-May each year, which is another reason that the US Dollar experiences a fall starting then on average.
equityclock.com/pictures/TreasuryYield30YearsTYXSeasonalChart_F393/image.png
Note
Also, Yen is becomes the strongest play eventually beginning in mid-May.charts.equityclock.com/seasonal_charts/JPYUSD.PNG
The reasoning behind the May move is the old adage "Sell in May and Go Away" as it pertains to selling or closing stock positions and fleeing to "risk off" assets such as the franc and yen (and bonds). Stocks typically run sideways from May to September each year.
Note
Reshort at that channel was the right choice. While I am shorting USDCHF directly i have 2 contracts of S6M2018 swiss futures that I am holding. I will have to roll them next month if this trade continues to do well. First target is the year pivot (cyan line in main chart) at about 0.9833.
Find the edge.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
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Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Find the edge.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.