Some textbook convergence/divergence on the monthly chart. I don't often make Forex trades based on time frames this long because who knows what will happen on the global economic stage, but, if you have a few dollars you want to risk and forget about, I can't see a better place for them.
Comments
butterliesel
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why you are thinking this scenario will happen? and if it hapopen wher you will see the end of the upmove?
sedemmler
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I'm thinking some version of this will happen for two reasons. 1 -- The UK economy is at the beginning of what seems to be a steady, but slow recovery, so the crawl upward will take some time. 2 -- The Swiss are very conscious of their currencies strength relative to the other major economies, so they won't take any action to stop a move upward. I think somewhere around 1.70 is reasonable down the road.
butterliesel
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thanks for your kind reply.
wish you a good weekend.