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AfterSNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted, however, we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes. Usually if we have this type of boxes on the left side of the chart, we can see how by s…
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GBP/CHF Range Boxing
After SNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted however we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes. Usually if we have this type of boxes on the left side of the chart we can see how by sim…
Prepering The Week Ahead
Hold on tight as the next week will not fall short expectation when it comes to fx volatility. Greece bailout talks or rather Grexit and Fed rate decision are the main risk event of the week. On the top of that we have SNB rate decision as well but market expectation is for no major change in monetary policy. SNB rhetoric when it comes to the stronger CHF will ultimately dictate CHF direction, however they seems less likely to turn more aggressive any time soon.
In short expect lot of intraday …
GBP/CHF Elliott Wave Analysis
After SNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted however we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes. Usually if we have this type of boxes on the left side of the chart we can see how by simple using those boxes…
USD/CHF in Correction Mode
Even thought back in January USD/CHF crashed due the SNB Black Swan even, caused by SNB decision to abandon the 1.2 peg, we're back near parity level, and this is all due to the US dollar exceptional rally. The broad based dollar strength was playing a key role in this impressive recovery and we should see this pair above current year high around 1.0200 level as soon as the dollar bullish trend resume. However right now we're trading inside a big corrective price structure.
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GBP/CHF Consolidation phase
After SNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted however we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes. Usually if we have this type of boxes on the left side of the chart we can see how by simple using those boxes…
Quick Review of my EUR/CHF Trade
In today's blog post I'll want to take the time and speak in more details about another trade that I had which was long EUR/CHF. Despite the general euro weakness across the board EUR/CHF was heading up quite nicely, and most likely SNB was bidding up this pair in an attempt to prevent for further CHF appreciation. My reasoning behind this trade was that once EUR/USD will pause this would take the pressure away from EUR/CHF and it can trade higher. However even thought we have a shallow retracem…
GBP/CHF Double Bottom
After SNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted however we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes.
Based on the Monthly chart we can spot a big double bottom that is ta…
Figure 1. GBP/CHF Weekly chart.
Based on the Monthly chart we can spot a big double bottom that is ta…
Gold Down-Channel
Last time I was speaking about Gold it was trading near an important inflection point, see more here: Gold Inflection Point
Even thought I was drawing the point that the probability suggest we should continue lower, I have also been advice if we broke the trend-line that connects the 2012 highs we should take the breakout with a long position. The initial breakout lack momentum but only after SNB decision to abandon the 1.2000 EUR/CHF floor, Gold started to gain momentum.
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Black Swan Event Armageddon Style.
In my second blog post of the year I was arguing and making the point of higher market volatility in the year ahead, you can find more about it here: 2015 A Year of Higher Volatility
Did I ever foreseen the level of current madness in the market? By no means NO.
Having said that there where some clues of what is to come as everything was pointing towards ECB aggressive easing measures to be implemented at beginning of the year, and now with EU lawyer approving ECB bond-buying programme as bein…