ForceFollower
Short

CADCHF in the Aftermath of Swiss Black Thursday

FX:CADCHF   Canadian Dollar/Swiss Franc
The SNB, or the Swiss Negative Balance, event has left the ccy markets shaky und unstable. The NFA             delayed decision to hike the margin requirements has probably stifled volume in the CHF markets, which is expressed in a lower price range. Notwithstanding that, CADCHF             is in one of the strongest down trends of all the majors and is in the process of making a correction. A decisive rejection of the prior high, as well as the failure to make a new high, both seem to confirm the continuation of the down trend. But first the market has to break the bull trend line of the corrective rally. The Swiss franc, though still extremely strong, has been weakening for the most part of the last two weeks and its momentum is at relatively oversold levels. This is why I expect that the ongoing corrective rally may soon be followed by another leg down.
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There is a very high degree of risk involved in trading forex . I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
jangseohee
2 years ago
Welcome back
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ForceFollower jangseohee
2 years ago
Hi! :-) I've been here all the time. :-)
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Tom_Killick PRO
2 years ago
Very nice. :)
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ForceFollower
2 years ago
At the bull trend line.
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ForceFollower
2 years ago
It looks to me that the bull trend line got broken.
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ForceFollower
2 years ago
Looking still pretty bearish to me.
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ForceFollower
2 years ago
This one has been really tough for me so far (perhaps because of the SNB's interventions). Clearly it's been following the up fork, in spite of the long-term down trend. I just wonder, if it's headed just for the dashed sliding parallel or 0.75, or even higher - for the median line.
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ForceFollower
2 years ago
CADCHF still following the up fork.
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