SXY
Swiss frank reached the bottomSwiss frank, one of the strongest currencies of 8 majors, if not the strongest (as it has been in bullish uptrend since 1960) has gone through a period of consolidation (with bullish inclination) during recent years. Now after it reached the bottom of its consolidation channel, frank is going to go bullish next weeks. And after it has been cornered in a triangle I expect a further breakout upwards to previous monthly high level. Considering weakening usd and eur it will be safe to look for shorts in usdchf and eurchf next weeks.
Bullish on Swiss Franc: Elliott Wave Count - $CHF $SXYThe franc may find support at the existing bottom trendline this week. If the bullish rebound is corrective, we would have confirmation of a potential triangle and look for shorts near the top. For now, I'll be eyeing bullish breakouts from the parallel channel created last week.
Currency Strenght vs other currency basketsGood morning traders,
The DXY is the most common analysis of the USDollar but there are other symbols for other currencies.
From the chart I´ve created you´ll find historical strenght of a specific currency vs others, not a single one like EURUSD .
We can learn when to identify major shift trends
I hope it helps, if you like thumbs up :-) Feel free to comment
Regards
Josep Pocalles