Is the Swissy a Sell?

The USD has been active and has started to regain some strength after a period of weakness. We’ve also heard from North Korea who has been quiet for a few weeks now.

Nonetheless, I feel that we are at a point where we might be able to sell the Swissy and look for a short-term drop.

We are back at resistance at 0.9850 and we are also running into a moving average and a trendline. That’s three quick reasons to consider a short. The higher timeframe is also declining.

It does seem counterintuitive to look for a short given the strong bounce we saw in the USD and stocks. However in the short-term, there is a tendency to revert to the mean, so I am definitely thinking about a sell around 0.9850 for only a quick trade.

USD/CHF – 240 min Chart.

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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