fxsurprise8's Blog

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Swiss Franc Little Changed

The Swiss Franc will continue to trade little changed against the US Dollar. In September the pair closed lower by only 128 pips, with a high to low range of only 245 pips. Furthermore notice how on the daily chart below there have been no major price changes since March of this year. We opened April 2016 at 0.9611 and we're currently quoted only 101 pips higher at 0.9712.
But let's zoom out a bit. Look at the monthly chart below. That giant spikey bar in the middle is the SNB peg removal in Jan…
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USD/CHF Still Range-Bound

The USD/CHF has stayed remarkably stable for the past few months. Ever since March, prices have been oscillating above and below the current 0.9700 level. We've traded as high as 0.9902 and as low as 0.9257 but ultimately the pair keeps coming back to what appears to be its fair value.
I expect more of the same. In August the USD/CHF closed only 9 pips lower, while in September we saw a 90 pips gain. But in percentage terms, this is below 1%, barely noticeable for a monthly bar. Even on a lower …
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EUR/HKD Higher Inside the Wedge

The EUR/HKD has been in a strong downtrend last year. On the chart below we can see the EUR/HKD getting sold heavily over 20 percent, from 10.80 to 8.12, as the ECB undertook a large QE program.
But this year things are starting to turn around. Since March 2015, there have been no new lows for the pair. On the contrary, a sequence of higher lows may indicate more gains for EUR/HKD. To be fair, we're also seeing a sequence or lower highs so this situation is not wildly bullish by any measure. Thi…
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EURo Short Closed +205 Pips

My Euro short in the aftermath of the SNB floor debacle turned out great. I banked +205 pips with my take profit at 1.2520. I still have a USD/DKK long open but I will likely exit that trade as well on Monday if the EUR and DKK continue to rally. Interestingly enough, there are already rumors that the EUR/DKK fixed regime may soon come under fire as well. I think it was Danske Bank that put out a note that the DKK may be the next domino to fall in ECB's road to QE. We'll see, hopefully I wont ge…
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More Gains for the USD/CHF

The USD/CHF has been in an uptrend since hitting a low of 0.8698 few months ago. But we are currently pushing up on the important resistance at 0.9750. This was a swing high back in July of 2013 and will likely place a lid on rising prices. Further up we have another important resistance at the 2013 high at 0.9838.
I expect that the uptrend will slowly push prices higher in December. I'm placing my ''bet'' on 0.9689, just below the 0.9700-0.9800 resistance area. While the USD/CHF will likely bre…
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Small Gains for the Swissy

The USD/CHF has been in a strong momentum move higher. While the trend, as indicated by the chart below, has been down since May of last year, the pair has gained over 380 pips in the last few weeks.
Going forward I expect the gains to continue, albeit at a smaller pace. I place my target for the USD/CHF at 0.9114. This is just below the swing low at 0.9130 reached on June 9th of last year. It also coincides with the 30% Fib retracement of the fall from May 2013 to now. The double resistance sho…
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