Quick Update on the USD/CHF

Quick update on an idea posted a week ago, on the USD/CHF cross. I believe we have just witnessed capitulation, which usually marks the change in trend.  My original target was 73.40, and the low today was 72.70, so i wasnt very far off.  Stops should be placed 40 pips below the low just seen, at 72.30.

And to wrap up the plays ive been following on the CHF (Swiss), here is the GBP/CHF cross, having just hit 1.1770. I think it reverses to the upside as the panic in general subsides, with a target of no less than 2,000 pips.