Sunday, August 14, 2011

Bullish on CHF Pairs

Price action dictates that most swiss franc pairs may see a bullish trend next week with pin bars forming on most of the pairs especially my favorite the GBP/CHF. The pound is now being seen as becoming more of a safe haven currency because of the Euro troubles that wont go away.


There is a very nice pin bar on the weekly that suggests some bullish action this coming week. This is as a results of the Swiss National Bank SNB deciding that they may peg the Swiss Franc to the Euro. This caused the currency asset to loose most of its gains in the earlier days reaching historical laws with most of the other pairs.

I will definitely be looking to get into this one with a bias on the bullish side. Lets see how it will perform come next week.
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1 comment:

  1. Forex/commodity traderAugust 15, 2011 at 11:52 AM

    Like i had indicated before i am currently on this pair until i have reason to believe otherwise. The Swiss are trying to weaken their currency a little in light of the recent strength. i will hold this trade for a swing trade and see how it unfolds.

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