$USDCHF battling for direction

The bullish breakout of recent months in $USDCHF has lost steam and clarity, but the long-term picture is still intact. Here the monthly chart:


Zooming in to the weekly timeframe we see that the initial explosive up move has flattened out and actually built up bearish momentum. Short-term I expect some more pressure on this pair until bulls and bears face each other around 0.95 - 0.96.



* Ideas expressed here are just my opinions and certainly no investment advice.

Comments

Post a Comment

Popular posts from this blog

How to trade

“I have not failed. I have just found 10,000 ways that won’t work.” – Thomas Edison I don't know about you fellow traders out there, but that is certainly how I feel about my beginnings in the financial markets. It all sounds so simple. You open almost any book about trading and read about how putting an indicatior on your chart can give you entries and exits and will make you rich. Excited about the insight you pull up your chart software and start seeing the described entries all over the place. No way to lose money with this knowledge, right? Well, it's not that easy. And how could it be? Do you really think something like "the 20 period moving average acts as support" is the essence of investing? Huh?? I mean, come on folks! It might work a few times, it might even work in the long run for some people. But the truth is: what these technical, indicator-driven strategies try to do is to exploit a statistical abnormality . Following these rules religiously is very t
Read more

Singapore is doing it right

I wish Germany and others would understand. But they are busy trying to get the biggest piece of their pie. http://www.sovereignman.com/trends/one-place-thats-really-doing-it-right-11835/ Thanks Mr. Black, interesting article. Economic permanent residence in Singapore is somewhere around 2.5 million dollars. http://ntlimmigration.com/singapore-immigration Another day maybe :)
Read more