Update on USD/CHF

On Sept 11, there was a post on the USD/CHF...This is the link for that post..

This is the updated chart.. The play now is to protect capital by placing a stop at 91.50..

Short play on USD/CHF

Its always advisable to trade with the trend, however when using stops, its ok to try and play counter trend if you are confident of a level... Almost a month ago, we were trying to see where this cross might reverse..Amazingly, it has gianed almost 2,000 pips in no time at all. Now is a good time for longs to consider taking profits, or tightening stops.. Im aniticipating some correction from the 0.9135 level, with a close stop just in case..

Update on Swiss (Chf) plays..

The past 2 weeks, we outlined some plays based on the Swiss Franc (CHF) in anticipation of a major trend reversal as that currency bottomed out. Here is the end result.....The blue lines are the levels where the buy recommendations were positioned at.  The first graph is for the Eur/Chf, and the second two graphs for the Usd/Chf  and Gbp/Chf crosses.

EUR/CHF

USD/CHF

GBP/CHF

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.

The Mighty CHF, close to its end...

This is a quick comparison between the weekly charts of the Eur/Usd & the Usd/Chf crosses..As both ratios have a common factor, it is only natural to expect them to move inversely..However a closer look in the area's circled shows the deviation in the correlation, mainly due to the excessive strength of the Chf seen the last few weeks...The acceleration of the move over the last few days, indicates that a change of trend is near.

Weekly comparison btw Eur/Usd  &  Usd/Chf

From the highs of 1.81 in 2001, theUsd/Chf cross has been in a powerful bear market for over 10 years now.. For long term players, getting in now is a no brainer. Just take a position and wait. The US $ is not going to disappear anytime soon. For short term players, i will try and fine tune a better entry point.

Elliot Wave Count



The 4th wave of this downmove formed a bearish triangle or wedge (which is a continuation pattern). The target of this wedge is outlined with the purple lines.. According to this method, the low we saw yesterday of around 76.1 should be enough for a sustained bounce and change in trend, but in all honesty, i am not convinced we have seen the last of this downmove. Nevertheless, opening a small long position at these levels with a stop just below 76 is not a bad idea..just in case..



Classical Textbook Triangle target

Finally, the level im betting on to cap this monster of a move..There's a good chance we might never get there, but im putting it out here just in case.. If its going to happen, id expect it to happen during August, maybe even within the 10 days or so..



Expecting a strong bounce on USD/CHF

This is the weekly chart of the Usd/Chf cross... A few minutes ago, we saw 82.72 trade.. I believe this cross right now can be bought for a long play, targeting no less than a 1,000 pips.

If the Swiss Chf weakens in the days to come as i believe it will, there will be many looking for 'News' to explain the turnaround.. I will try and post those news articles (if they come out, and if the cross works like i think it will)..But i just wanted to point out 'in advance' that i am buying here with no regard to any news..