1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Weekly Trading Forecasts on Major Pairs (January 19 - 23, 2015)

Discussion in 'Signal Services & Software' started by Currency Expert, Jan 17, 2015.

  1. Currency Expert

    Feb 14, 2014
    Likes Received:
    A Signal on USDCHF

    Dominant bias: Bearish
    This is now an abnormal market, since the Swiss National Bank (SNB) removed the peg on EURCHF and cut their interest rate, which is currently negative. This happened on January 15, 2015 and it has had extremely huge impact on all CHF pairs, including USDCHF. For example, CHFJPY rose by over 2400 pips, reaching a high of 138.97; and USDCHF nosedived by over 2800 pips, reaching a low of 0.7309. This happened in one day, plus similar unusual volatility happened on all CHF pairs. These kinds of movements in a single day are extremely spectacular, and therefore, current CHF pairs’ prices are bound to get corrected in the long run and things would return to normal in a matter of weeks. For instance, when USDCHF dropped like a stone, EURUSD ought to spike skywards, since they are negatively correlated in a normal condition. The latter was not affected, and both pairs cannot remain bearish for a long time (and Greenback is strong in its own right). USDCHF would, therefore, move upwards by at least, 500 pips this week.

    Source: www.tallinex.com
    #1 Currency Expert, Jan 17, 2015
    Last edited: Jan 17, 2015
  2. vic84

    vic84 New Member

    May 23, 2013
    Likes Received:
    CHF has been trading very strongly and there are chances it might be in this trend for next week.

Share This Page