A Nice Profit On The Swissie-Looking Forward To Tomorrow! - Forex News by FX Leaders

A Nice Profit On The Swissie-Looking Forward To Tomorrow!

Posted Wednesday, August 23, 2017 by
Shain Vernier • 1 min read

Range bound has been the best way to describe this week for the Swissie. Support and resistance levels have held, giving us a nice profit on yesterday’s call. Today has been more of the same for the USD/CHF. Sideways trading and dullsville.

USD/CHFUSD/CHF 30 Minute Chart- Range Bound

The economic data out of Europe and the U.S.  brought some participation to the market but failed to yield a directional move. Swiss Industrial Production numbers are due out for tomorrow’s European session. These stats should act as a catalyst for departure from the compression zone.

If you are still fading the extremes of the compression zone, it is a good idea to shut it down. There have been some great rotational trades over the past 24 hours, but the coming metrics are likely to jolt USD/CHF valuations.

The great thing about the markets is that there is always a great trade right around the corner. Let’s rack winners and move on to tomorrow!

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About the author

Shain Vernier // US Analyst
Shain Vernier has spent over 7 years in the market as a professional futures, options and forex trader. He holds a B.Sc. in Business Finance from the University of Montana. Shain's career includes stretches with several proprietary trading firms in addition to actively managing his own accounts. Before joining FX Leaders, he worked as a market analyst and financial writer.
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