Today was a major disaster for the equities market. My portfolio was -4.03% in a single day.
I’m thinking safe haven… maybe USD/CHF?
Or... maybe the USD will be the safe haven beneficiary?? It would make sense… EUR/USD, GBP/USD, et al have all flopped… I think there may be further USD strength to come - like Rusty says. I'm looking at USD/CHF though and I feel CHF will strengthen against the USD unlike other pairs like GBP/USD and EUR/USD. It could make sense since EUR/USD and USD/CHF are mainly negatively correlated…
USD/CHF 15 minute
Here’s what I’m going to do…
I’m looking for the little horizontal level to break in either direction. However, I have a bias this time and it’s for USD/CHF to break down in favour of CHF.
Major support level at 1.0035…
From current level, that’s more than 250 pips. I'm short @ 1.02578.
Stop above 1.0285
First target = 1.02
Ultimate target = 1.0035, but if there’s even more bearishness there, I’m going to move my limit some more. Greedy? Bwah haha… Halloween-type evil laughter. LOL.
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