NOTE! This site uses cookies and similar technologies.

If you not change browser settings, you agree to it. Learn more

I understand
Looking at the weekly chart of the Swiss Franc future, we can see that it has recently broken a support level.
Could it be a case of what Richard Wyckoff called a 'spring' pattern?

swiss franc spring

If we look at the COT Index, the commercials bullish stance could confirm our bold 'spring' hypothesis.

swiss franc COT

Today Mario Draghi will communicate the results of the ECB's Governing and will announce new measures to stimulate growth: probably a new cut in interest rates, but also an extension of Quantitative Easing.
Usually the Swiss Franc follows the Euro currency movements. It will be interesting to see how the market will react to Draghi's moves.
If the price of the Swiss Franc will rise, breaking the level to the upside, we would have a confirmed spring pattern and, consequently, could interpret it as a strong buy signal. Otherwise, don't do anything right now, because the Swiss Franc could fall a little bit more before eventually reverse to the upside.

Remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility.

Seguici su Twitter


Trading for Purpose RT @AheadoftheNews: NYSE adv/dec past 2 days. Note the strong opens which deteriorate as day progresses. distribution.…
Tuesday, 20 March 2018 06:37
Trading for Purpose RT @ttp_mailus: Cronos Group ($CRON) flies high in Wall Street. Apparently the cannabis business pleases investors. cannabis weed Medic…
Friday, 09 March 2018 10:43
Trading for Purpose RT @ttp_mailus: FOX has just won an Oscar for 'The Shape of Water'. Is the newly formed trading range a distribution or a riaccumulation?…
Monday, 05 March 2018 12:17
Trading for Purpose RT @ttp_mailus: The results of Italian elections begin to clear up and the FtseMib index struggles not to collapse. The ascending channel,…
Monday, 05 March 2018 11:12
Trading for Purpose RT @ttp_mailus: Usually the oil stocks index turns slightly earlier than crude oil itself. Recently XLE (blue line) turned south at end of…
Thursday, 01 March 2018 14:21