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Swissy

USDCHF wedge breakThe Swissy has broken out of consolidation, finishing Tuesday above wedge resistance. Pair had been trading sideways since February and bulls will be looking to capitalize on this development, pushing the pair higher over the coming days. Initial resistance is a zone stretching from 9920 - 9960, with a break above there targeting parity and the 1.0040 - 1.0095 zone. Expect pair to find willing buyers on any interim weakness, with former resistance in the .9845 - 9810 zone acting as support.
Long
by MFXSCharts
Trade of the day. Buy USDCHF. Oversold.This could be a very profitable trade. The way I see it is that the price is oversold, dropping to fundamental support. Now, this is important, if the SNB anticipates larger QE by the ECB, they will drop the interest rate further into negative territory. This could be a huge event as the SNB believes the currency is already severely overvalued. The SNB will hit the market like they did a year ago with this announcement. I recommend buy stops with stop losses below long term support.
Long
by maccabean
A long term trade that will 100% pay off. GuaranteedAs Swiss franc is exposed to events in Europe (high correlation to EUR) plus negative interest rate that will likely increase, ie becoming more expensive to store funds in CHF, Swiss banks will likely become less and less of a safe haven as other currencies become more attractive or even perhaps Gold. Also, don't forget with new tax and bank secrecy laws, Switzerland is becoming less and less a destination for offshore funds. In any case, Switzerland has a manufacturing sector to protect and preventing the CHF to increase further will be a job for the SNB. On the other hands, the US economy is shaking off the winter blues and looks to increase rate in the next six months perhaps making it a destination for global funds as a carry trade.
Long
by maccabean
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