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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