Looking at this pair we have a bullish wedge (*See Below*). Inside the wedge we have a bullish bat pattern with an exact 50% B point. The technical analysis looks good on this pair- the pattern is meeting the wedge at a level where there has been support in recent weeks also.
Looking ahead this week we have the trade balance to be released for the Swiss frank, along with the agreed consensus for the Swiss GDP and Retail Sales on Nov 30th and Dec. 1st.
Retail sales came in at -0.4% on the last release. This may rise significantly heading into Christmas which wouldn't necessarily increase the value of the currency as it's just seasonal pump. An increase in GDP prior to the retail sales however would see this pair rise to our TP level.
Bat Ratios
X:B = 0.38-0.5
A:C = 0.382-0.886
B:D = 1.618-2.618
X:D = 88.6%
Looking ahead this week we have the trade balance to be released for the Swiss frank, along with the agreed consensus for the Swiss GDP and Retail Sales on Nov 30th and Dec. 1st.
Retail sales came in at -0.4% on the last release. This may rise significantly heading into Christmas which wouldn't necessarily increase the value of the currency as it's just seasonal pump. An increase in GDP prior to the retail sales however would see this pair rise to our TP level.
Bat Ratios
X:B = 0.38-0.5
A:C = 0.382-0.886
B:D = 1.618-2.618
X:D = 88.6%
Comment:
See overview below.
