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Swiss Franc Currency IndexSwiss Franc Currency IndexSwiss Franc Currency Index

Swiss Franc Currency Index

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SXY trade ideas

SWISS FRANC CURRENCY INDEX (SXY) DAILY TIMEFRAME SHORTThe Swiss Franc currency index is currently moving in a series of lower highs and lower lows, characteristic of a downtrend. The price is clearly moving downwards with brief correctional pauses as shown by the ascending wedges and bear flag chart patterns. I am targeting a short trade toward the 97.8 area, which will be my profit taking zone. This area represents a potential buy zone as it is the bottom of the correctional structure. I certainly hope history repeats itself with this trade and the 90% rule sticks out!!!. A break above 100 might change my bias a bit, but currently i am targeting the 07.8 price level for profit-taking.
TVC:SXYShort
by munyaelliott
SXY - CHF - Strength Coming Soon?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), potentially ZXY (NZD) Bearish: USD, AUD, CAD (LongTerm), JPY (ShortTerm), EXY (EUR -will have to wait and see), and Potentially GBP So... Knowing the above, potential pairs to look at over the next 3-11 days : Shorts: AUD/CHF short EUR/CHF short USD/CHF short GBP/CHF short (not confirmed w/ gbp) CAD/CHF short (long term due to cxy) Longs: CHF/JPY short term long trade (E = 110.7 area) Hope this makes sense! KISS = Keep it stupid simple.
TVC:SXYLong
by PipPhenes