Is the Swissy a Sell?
Rowan Crosby • 1 min read
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.