Swiss Franc – Is There Any Stopping It?

The Swiss franc has been trading around the green support zone recently, until it broke down earlier today. Is it a one-day event where the dollar bulls can be expected to step in shortly? Or is there some dollar-selling still ahead?

Earlier today, USD/CHF broke below the green support zone and the 61.8% Fibonacci retracement, triggering further deterioration and a breakdown below the recent lows.

This move opens the way to the next support area based on the 76.4% and 78.6% Fibonacci retracements, as the bears have the initiative.

We hope you enjoyed reading the above free analysis, and we encourage you to read today's Forex Trading Alert - this analysis' full version. There, we discuss also the current situation in EUR/USD and USD/JPY. The full Alert includes more details about our current positions and levels to watch before deciding to open any new ones or where to close existing ones. There's no risk in subscribing right away, because there's a 30-day money back guarantee for all our products, so we encourage you to subscribe today.

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Nadia Simmons

Forex & Oil Trading Strategist

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All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

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