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We expect to see CHF continue its pattern.
CHF should see significant and reliable strength starting late this week.
CHF/XXX = / bullish
XXX/CHF =\ bearish
*Generally, (XXX) matters just as much!
Also as we see AUD, USD, CAD, potentially GBP weakness
CHF and these pairs would make good potential trades.
Next few weeks:
Bullish: CHF, JXY (JPY)(LongTerm),...
Expecting DXY to have continued weakness.
This will be helpful to know for all USD pairs.
Remember: Think of pairs as a teeter-totter (Weakness:LightWeight) & (Strength:HeavyWeight)
USD/XXX = \ bearish movement
XXX/USD = / bullish movement
*Generally speaking the XXX side matters just as much*
Expecting one more leg to the downside before JPY gains strength.
Yen has always been a safe haven in uncertain markets.
By next week = (XXX/JPY) should see \ bearish action (Generally) | Due to its gain in strength. Keep an eye on JPY pairs.
Considering shorting EJ with a small lot and tight SL
EXY still has some uncertainty on direction. However, JXY should see a very short term bullish move followed by some bearish days then followed by big bullish moves.
Worth giving it a gamble.
Not the ideal trade but can keep a very tight stop.
Also R:R is good.
USDCHF has been one of our favorite pairs to trade over the last few months.
With USD losing Strength and CHF Weakness followed by solid Strength
Points us to a short opportunity especially on the 4 hour.
We see a short opportunity coming up this week for EURCHF however the individual currencies make it unclear at this time.
EXY has no clear direction ATM however we are Bullish Bias
CHF has another week or so of weakness before Bullish Price Action.
Lets see how this plays out