Matter of Money

Dear #GBPUSD, please go to the upper channel trendline (daily chart) :-)

After weeks of plummeting the #silver spot price is finally showing signs of life. With a higher high and the break of the steep down-trend line I am switching to neutral for the time being on $XAGUSD.

Despite Yellen's confirmation that a December rate hike is probable the dollar sold off into the weekend. Now #USDCHF is at a crossroads and presenting us with a potentially great long entry. Risk is very limited as the trade can be exited quickly in case the trend breaks.  The upside on this trade can be huge as the Swiss Franc is supposedly highly overvalued and the Swiss economy is struggling with its strong currency. I have identified 2 technical targets at around 1.0750 and 1.1700. Another benefit is the carry that this position will pay.

After a week of central bank action the #Dow is unimpressed and presses on in its steep weekly uptrend. Yesterday's plunge after Draghi's lower than expected QE anouncement has been entirely bought up only one day later. #DJIA is trading slightly below resistance, the steep uptrend has to be favored over the bearish trendline. If it pushes through I think new all-time highs are likely coming very soon.