USDCHF: 5 August 2014, Tuesday, 7.13pm Singapore Time
Attached above is the intraday hourly chart for USDCHF.
Fake break downs detected.
Fake break downs detected.
Based on above price structure, orange zone of USDCHF at 0.91000 is guaranteed to break up in the intraday hourly chart.
Based on weekly chart price structure, this up-move in USDCHF will go all the way to 1.0000 parity level area and whip just above 1.0000 to end its uptrend and begin the sell off in USDCHF.
Big Sell off in USDCHF means huge buys in Swiss Franc with respect to US Dollar.
To sum it up, this essentially means Swiss Franc weakness should end at parity 1.0000 and begin going up strongly again since it is a safe haven and financial markets are transiting back into bear markets again. Take profits of USDCHF at 1.0000 and short just above $1.0000 for the big sell off in USDCHF, ie big buys in Swiss Francs with respect to all other currencies.
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Hi Donovan, what are the tell tale signs that signals that the breakdown is a fake one?
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