Swissy

Charts courtesy of Equis and eSignal. Source: Metastock and Advanced GET.

I am updating the site quite late Sunday night as I have not had a chance until now to do my analysis today for the week ahead.

The above charts are of the daily USDCHF pair. The first analysis is showing what the smart money are looking to do with this pair.

The second analysis shows the Swissy hitting our MOB and shows support at 1.16 the figure. It is also showing a convergence on the MACD.

The third analysis is my BB strategy on Metastock. This has given us a buy signal with possible support from the red moving average.

This is a pair worth considering a long position on for a possible swing trade. Should we break the MOB then the next MOB would be our support. Although the USD has taken a nose dive for a while now across the board, it needs to have retracement for either the beginnings of a reversal or a continuation pattern. Either way, I would personally look for a bullish opportunity on this (even if it is temporary).

Take note: In the morning at 6.45am we have the CHF unemployment rate and at 7am President Trichet will be speaking. After that we have GBP Industrial Production figures out and PPI.

Please do your own analysis and come to your own conclusions before opening any positions.

Happy Trading.