It appears like USDCHF will make a retracement here after breaking out of the current uptrend linear regression channel. I think we could expect it to act like USDJPY, and possible, gold, silver, nzdusd and the Euro.
I expect funding currencies to be weak in the long term, and the 6 month timeframe shows potential for a massive uptrend in this pair.
If you want to take the short, keep stops above the recent high, or if very aggressive, above 1.01655.
You can aim for a retest of the election daily highs give or take. After December FOMC, we'll have our answer, but remain vigilant for the longer term uptrend resumption thesis. Either way, this pair favors buying or selling oversold extremes, so also keep that in mind.
Good luck,
Ivan Labrie.
I expect funding currencies to be weak in the long term, and the 6 month timeframe shows potential for a massive uptrend in this pair.
If you want to take the short, keep stops above the recent high, or if very aggressive, above 1.01655.
You can aim for a retest of the election daily highs give or take. After December FOMC, we'll have our answer, but remain vigilant for the longer term uptrend resumption thesis. Either way, this pair favors buying or selling oversold extremes, so also keep that in mind.
Good luck,
Ivan Labrie.
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On track.
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I'd watch and wait to go long here, same in USDJPY.
