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Franc

GBP/CHF LONG BIASAS THE GBP CONTINUES ITS BULLISH MOMENTUM ACROSS THE BOARD IT COULD PROVIDE A NICE LONG OPPORTUNITY ON THIS PAIR. WE HAVE MADE 2 HIGHER LOWS AND RECENTLY SNEAKED IN A HIGHER HIGH. ALTHOUGH WE WASNT ABLE TO GET A CLEAN BREAK ABOVE THAT RESISTANCE IT COULD BE A GOOD SIGN OF THINGS TO COME. I AM NOW MONITORING P.A CLOSELY FOR A LONG SETUP. I HAVE HIGHLIGHTED THE AREA AROUND 1.4470 WHERE WE FIND THE 50% FIB LEVEL ALONG WITH THE ASCENDING TRENDLINE. IF PRICE HIT THIS ZONE WE COULD ALSO TAKE IT AS A RETEST OF THE DESCENDING TRENDLINE THAT WAS RECENTLY BROKEN MEANING SOME GREAT CONFLUENCES TO TAKE THE LONG IF WE GET THE RIGHT P.A. IF EVERYTHING LINES UP WE WILL BE LOOKING AT A POTENTIAL HIGHER HIGH TO BE MADE AT AROUND 1.4960. ONE TO WATCH HERE
Long
by UnknownUnicorn185710
A long term trade that will 100% pay off. GuaranteedAs Swiss franc is exposed to events in Europe (high correlation to EUR) plus negative interest rate that will likely increase, ie becoming more expensive to store funds in CHF, Swiss banks will likely become less and less of a safe haven as other currencies become more attractive or even perhaps Gold. Also, don't forget with new tax and bank secrecy laws, Switzerland is becoming less and less a destination for offshore funds. In any case, Switzerland has a manufacturing sector to protect and preventing the CHF to increase further will be a job for the SNB. On the other hands, the US economy is shaking off the winter blues and looks to increase rate in the next six months perhaps making it a destination for global funds as a carry trade.
Long
by maccabean
1
Is the Swiss Franc to Blame for Gold's Pullback?The Swiss franc is lower on the day amid speculation that the Swiss National Bank (SNB) will intervene in the foreign exchange market in order to actively weaken the currency. As you can see by the comparison, gold tracks the Swissy rather closely. Interestingly enough, gold's all-time high of $1,923 ended at about the same time the SNB decided to peg their currency to the euro. When the peg was first introduced, the single-largest daily inflow in the GLD occurred but had been wound down throughout the last few years. Traders matched that inflow into the GLD when the SNB pulled the plug on the peg. However, I think the SNB is playing with fire. They have already taken a 60 billion CHF hit to their FX reserves due to the abrupt end of the euro peg. Furthermore, it became too expensive to keep the peg on the euro, so the SNB will likely hint at intervention as a means to keep traders from piling into it. This could work in the short-term, but these methods usually do not have lasting effects. With a balance sheet of almost 90 percent of GDP, the SNB's bluff will likely be called out in the long-run. The franc has been a "safe" haven for investors, whether the central bank likes it or not. If global turmoil continues to strengthen, I expect the franc, and presumably gold, to increase throughout the year. Keeping in mind, there is a 40 percent weekly appreciation that has to be digested. The correlation should be watched further.
S
by CommoditiesTrader
13
Gold Surges on ECB QE Rumors and Market TurmoilOn January 6, I noted how the price action technicals were beginning to favor gold (here). Since, gold has begun to rally with force on both a global growth slowdown and increasing market turmoil. Naysayers will continue to hate gold, but both fundamentals and technicals remain supportive. The surprising (maybe not so much) move by the Swiss National Bank to abandon the EURCHF floor, in order to front-run the ECB’s QE announcement, sent shock waves through the financial system. It took only two months to axe the floor, following the gold referendum, after the SNB was so passionate about doing “whatever it takes” to defend the floor. Price action surged above the 200-day EMA, which was pointed out as a secondary resistance level after overtaking the $1,240 key resistance level. Psychological resistance will be placed around $1,260, while price action has a chance to challenge the overwhelming downward trend created in March 2014. Gold could find this challenging, as the focal ascending channel intersects the downward trend line at $1,272. It also corresponds with price action resistance. If price action is rejected, look for profit taking to take gold down to the 200-day EMA, perhaps the $1,240 level to test support. RSI is leading into an overbought condition, so this level could find consolidation before the next leg up. However, if gold can over take it, I look for $1,295 to be the next key level of resistance, while $1,300 will act as a whole-number, psychological resistance traders seem to like. Above that, $1,314 per toz. is favorable. We have now had several bars of strong, bullish volume above the 20-day average, and the ADX momentum indicator is ticking upwards – supporting the current uptrend.
COMEX:GC1!Long
by CommoditiesTrader
31
Can't go wrong buying EUR/CHF at current levelRemember the Swiss National bank is committed to defending the currency at 1.20 with "determination". It may possible they are actively intervening at this point. 1.20 is the floor so buying now offer a great risk/reward opportunity. Unlikely to come again for a while. On the technical side, each lower platau of the 20 day MA is met with a higher and price spike afterwards. The probability of profiting is such a shoe-in that your broker does not want you to buy in. That's why the overnight premium is unfairly high and the spread is high too.
Long
by maccabean
2
EURCHF Ready to Bounce Towards Top of 3yr Channel?EURCHF has been drifting towards the lower end of a 3yr channel since the beginning of the year. Although it hasn't touched the 1.200 level the SNB has vowed to defend, it's gotten close enough in recent weeks to attract bargain hunters buying in anticipation of SNB intervention. I'm long at 1.208 and like the risk reward here as the weekly RSI, Stochastics and MACD all tilt higher now appearing to have put in a bottom a month or so back. Keep a close eye on the EURUSD for signs of an interim tradable bottom which should signal the Euro strengthening possibly versus the Swiss franc as well. Visit goo.gl for today's technical analysis on $NG_F, $ZC_F, $USDJPY, $VIX_F, $NQ_F, $NFLX, $TSLA, $ES_F, $USDX, $EURUSD, $EURCHF, $CT_F Website: tradablepatterns.com FB: facebook.com Stocktwits: stocktwits.com Twitter: twitter.com Linkedin: www.linkedin.com YouTube: www.youtube.com Google+: google.com Email: info@tradablepatterns.com
Long
by TradablePatterns