Is the Swissy a Sell? - Forex News by FX Leaders

Is the Swissy a Sell?

Posted Wednesday, November 29, 2017 by
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.

CHF

USD/CHF – 240 min Chart.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

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.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of