What is different is that I want to start this week with a pair I have not talked about recently....the EUR/CHF. This chart shows that this pair is in a freefall down through the 1.35 level. This is in spite of the fact that at one time the Swiss National Bank (the central bank in Switzerland) gave the impression that they did not want to see this pair trade down through the 1.5000 level and were prepared to intervene to make sure that did not happen. There was intervention and you can see examples of that (or rumors of intervention) by the long wicks seen on this chart. Those long wicks are enough to stop one out of a sell position in spite of this strong trending move down. So even though this is the strongest trending pair right now, I still hesitate to sell it because I think that this market is still prone to big moves against the trend based on nothing more than rumors of intervention.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.