Just as the chart appeared to be ‘looking good’ for a long USD Index trade, late last week, my latest short in CHF was stopped out today with some profit however modest.
We can view the series of trade signals in 2016 for the Swiss Franc futures as per the above day chart. The market has been trading in tight, relatively quiet uptrend, and has generated some mixed data, winning 2/5 trades with a net loss of -762/contract traded. Today looked interesting as all currencies generate coordinated signals: Eurocurrency – Long, USD Index – Short, and on Friday the British Pound went long. The set-up in the Swiss Franc above, is a ‘low risk’ trade from the long side, given the series on long signals between 1.00-1.02 – basically the last 3 long signals this calendar year. So the market appears to be coiling and getting ready to move – up/down. Given the push higher today in Gold, and the possibility of seeing a reversion in the GBP, since the BREXIT breakdown, I like the anti-dollar trade for the moment – in CHF. Though we would still nee to see the Dollar break the 93 point level for a more sustained Dollar-inverse trade.
Futures Trading 