“Is the franc going to reverse?”

I held a webinar yesterday and this simple question popped up on the text chart window and began a 20-minute discussion of what exactly is a “reversal” versus a correction, and a look a the retracements in the USD/CHF and EUR/CHF.

I think it’s especially interesting because I held the webinar yesterday morning, and today we find that Germany had a miserable Q2 and Sarkozy and Merkel are meeting today…

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  • Ilya Gruntal

    Weekly chart: Hammer.
    Fundamentals: Swiss bank weakening the currency for next 3 month.

    You are too bearish on CHF imho.

  • Oana Barker

    great, dear Cleopiptra! guess what, my thoughts exactly :) and thanks for reminding me that the  best way to enter a contrarian (even if that is actually a going-back-to-the-main-trend) is… towait for it to happen first.
    I am just wondering if the huge bullish nove on the pair is a forming weekly engulfing bullish patter. But who cares, i am sure there are enough bulls of the franc, who, ike us, can’t wait to have a prper place to jump in!
    Waiting for updates… Best regards,
    Oana

  • Fadi El-Eter

    Apparently nobody seems to care that the Swiss economy is not indifferent to either Europe’s or America’s economy. The Swiss franc is, IMO, a wrong hedge.