Tomorrows interest rate decision on the Swiss Franc is expected to be unchanged, but is rumored to be talked down after SNB chairman repeately stating it's "significantly overvalued" and want the demand to go down.
If the overvalued Franc drops in appreciation I can see it break the weekly if it breaks the neckline of the Head & Shoulders that are forming.
H&S is possibly a trend reversal.
If the overvalued Franc drops in appreciation I can see it break the weekly if it breaks the neckline of the Head & Shoulders that are forming.
H&S is possibly a trend reversal.
Comment:
still showing rejection to the 38fib on the daily, hoping to see more downside as 4H now crossed the MA
Comment:
still rejecting the 38fib, and even though other currencies have gained strength against the JPY lately I don't think this will hold for the CHF, if so, I think it'll be a fakeout to the 50fib before retracing.
Comment:
CHF touched and bounced off the small counter trendline and rockets through the upper major trendline! I'll wait for a retrace to see if I can enter this movement
Comment:
I might think the 50fib test might be real, if it's not back inside the trendline first think monday morning I will consider this analysis as invalid and jump on a 4H analysis instead, then for the upside!
Comment:
And for the upside it was!
Now there might be a retracement again, huh?
61fib rejected and good news from BOJ.
Let's see
Now there might be a retracement again, huh?
61fib rejected and good news from BOJ.
Let's see