ridethepig | CHF Market Commentary 03.12.2020
Another interesting play where buyers can win the flow. So, the idea to outguess a temporary floor in USDCHF is correct as we are approach very 'rich' levels for sellers. If buyers are going to have a late breakfast 0.890x is the level to load. Another few pips down and it would be difficult to defend because of the horizontal support.
For those that remember the previous attempt we are tracking exactly the same attack. As we all know, the philosophy of a minor swing, is only for the evaluation of any possible situation with the major swing involved. And for this particularly we have the next leg higher in dollar cooking with some devaluation from SNB to put the icing on the cake:
An interesting move, EURCHF ⬆️ and USDCHF ⬆️ up a lot more... The flow is worth considering, it is not a pitless market, very often we can close our eye to some dollar devaluation but we sellers are out of energy and we need to smooth things over.
Thanks for keeping the feedback coming 👍 or 👎
For those that remember the previous attempt we are tracking exactly the same attack. As we all know, the philosophy of a minor swing, is only for the evaluation of any possible situation with the major swing involved. And for this particularly we have the next leg higher in dollar cooking with some devaluation from SNB to put the icing on the cake:
An interesting move, EURCHF ⬆️ and USDCHF ⬆️ up a lot more... The flow is worth considering, it is not a pitless market, very often we can close our eye to some dollar devaluation but we sellers are out of energy and we need to smooth things over.
Thanks for keeping the feedback coming 👍 or 👎
Comment:
Very dull... lets see if we can get anything here before the weekend otherwise we can close it for a scratch trade.
