Swiss Franc Reversal Likely in Place
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Trade Implications – USDCHF: Our data shows that crowds are often their most long at price lows, but major turning points are only visible in hindsight. Our purely sentiment-based Momentum2 strategy has already gone long from SFr 0.8919. We’ll need to see the USDCHF clear important resistance at SFr 0.8940 to confirm the reversal.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.