Market have found strong lowest point at near 0.7 prize zone and reversed. We can see how many times since 2008 price level of 1.0 shown strength as support and resistance as well acting like the magnet. Since 2011 market unfolded into slightly rising wedge with 2015-01 higher highs and higher lows. In 2015-11 market have closed monthly candle above 1.0 and next candle dip down to close just below 1.0. Is it a manipulation or the break through and retest we will see soon.
In case that US economy is growing and show good performance results with intention to rise interest rates at the same time CHF have negative interest rates and deflation in economy we can consider that fundamentals support moves higher.
For more detailed and more frequent ideas, reviews and analysis you can contact me here, on Facebook or website.
Best wishes for new incoming trading year! ;)
In case that US economy is growing and show good performance results with intention to rise interest rates at the same time CHF have negative interest rates and deflation in economy we can consider that fundamentals support moves higher.
For more detailed and more frequent ideas, reviews and analysis you can contact me here, on Facebook or website.
Best wishes for new incoming trading year! ;)