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USD/CHF Falling Wedge Breakout Nears Target, Trend to Continue?USD/CHF broke above a bullish Falling Wedge chart pattern, extending gains towards the target of the breakout. This follows broad US Dollar gains in the aftermath of the Fed rate decision. Learn more about Falling Wedges via DailyFX.com here - www.dailyfx.com A bullish crossover between the 20- and 50-period Simple Moving Averages offers a near-term upward bias. The pair is eyeing the midpoint of the Fibonacci retracement at 0.9196. Clearing the latter exposes the 61.8% point at 0.9262 as the pair aims to reverse the downtrend from April and May. In the event of a turn lower, keep a close eye on the 20-period SMA which could come in as key support. FX_IDC:USDCHF
by QM_Dubrovsky
USDCHF | LONG-Values- Entry Range: 0.89896 - 0.88857 Average Entry: 0.89164 (RRR: 1.91) Stop Loss: 0.87765 Profit Target: 0.91860 -HOW TO ENTER MY TRADES- 1. Ladder your entries. You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled. 2. Only first touches are valid. If price is rebounding back into the entry zone after either the profit target or stop loss was hit the entry zone is no longer valid. Example: Trade Idea: Valid and Invalid Entry:
Long
by Event0011
The Swiss Franc: The best FIAT currency in these troubled times?In light of the tragedy facing the international monetary policy, people who understand debasement know that it was the fall of many empires. From the Romans to the Middle Age Bankers. Bankers overpromise and underdeliver. In all the countries on earth Switzerland and China are the two currency likely to do well as the US loses its dominance by over-borrowing off the back of the World. Once the US is no longer able to sell its dollars to other countries, the world will be seeking safe heavens. On the FIAT side (unbacked by anything except the might and sovereignty of the country behind it), the CHF stands out here. The pattern is a descending triangle and indicates there will be a breakout for the Bull or Bears. I'm short the USD and reallocating all my assets out of the US until there's an indication that the US dollar bull is still alive. I think the USD is a zombie and it's such a monumental thing that everyone wants to ignore it for the most part. The world will reallocate assets outside the US for the time being. Why compete with the US Fed with your cash? They print the stuff with worthless IOU that conventional investors still believe in. It seems we need to get ready for hyperinflation. Reallocate to safe asset classes. CHF might be one of them if you think currency backed by nothing is still worth something. The Swiss hold 70% of their gold reservers on their soil. 20% is held in England and the other 10% in Canada where the Canadian MINT announced in November 2020 that will not secure it's MNT ETN! That means starting Feb 2021, if you own "paper IOU" from the Canadian Mint, they won't be able to delivery if there is "force majeure". 2021 might just be the year of "Force Majeure" As a side note, the Canadian Central Bank is the only one in the world without any more gold reserves, why: Speculation: Canadians are generally very honest. So the bankers report the actual gold held.It's a good thing Canada has no gold because it can't defend it against its neighbours. Other countries oversubscribed, loaned, sold their gold and there is no third part audit. I trust Canadian and Switzerland with its backing of its currency and between the two, the CHF is the safer FIAT IMHO.
Short
by UnknownUnicorn2413721